Nvidia drops after Huang admits affair, Hong Kong stocks open higher on tech gains

Nvidia fell 3.7 percent in US after-hours trading after chief executive Jensen Huang admitted in a message to employees that he had been unfaithful to his wife, while Hong Kong stocks opened higher on Monday on broad gains in technology shares.

The benchmark Hang Seng Index rose 143 points, or 0.59 percent, to 23,625 at the open, and the Hang Seng Tech Index advanced 1.02 percent to 4,119.

Major tech stocks mostly gained. Alibaba (9988) and Tencent (0700) rose 2.2 percent and 1.3 percent respectively, while Meituan (3690) advanced 0.3 percent. Among blue chips, Wuxi Biologics (2269) led the gains with a 2.9 percent rise.

Xiaomi (1810) opened 2 percent higher after reports that its electric vehicle unit had established a new international business department, covering international markets, go-to-market strategy, sales, network development, delivery and logistics, user services, general management and overseas regions.

Local chipmakers also advanced, supported by a 4.21 percent gain in the US Philadelphia Semiconductor Index on Friday. Semiconductor Manufacturing International Corporation (0981) rose 2.2 percent, while Hua Hong Semiconductor (1347) climbed 2.6 percent.

Nvidia’s board is also set to launch an independent investigation into claims that Huang had been targeted by Chinese spies.

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