Hong Kong semiconductor stocks strengthened in afternoon trade. Zhaoyi Innovation (03986.HK) jumped over 14%, Huahong Hongli (01347.HK) rose more than 8%, SMIC (00981.HK) gained about 5%, while Shanghai Fudan (01385.HK) and Lanqi Technology (06809.HK) also advanced.

China's Shanghai Composite Index fell below 4,000 points, down 0.69% on the day.

Jiangsu provincial government account said the province has rolled out a targeted package to stabilize the real estate market and accelerate urban renewal, expanding its policy “toolbox” along three dimensions: land supply, development/construction and property sales, within a “four ones” framework. At a June 26 investment briefing attended by more than 110 developer representatives, provincial departments and 13 prefectural cities released batches of small, fast-to-develop high-quality land parcels, quality stock land held by local state-owned firms, and priority urban-renewal projects.