Tech majors were weighed down by news of Jensen Huang's exit as Nvidia's chief executive last night, with Nvidia shares plunging 14 percent, dragging down US shares and global AI-linked stocks trading lower, Hong Kong shares opened down 136 points.
The benchmark Hang Seng Index fell 0.57 percent to 23,871 points, while the tech gauge dropped 0.35 percent to 3,918 points.
Tech heavyweights Alibaba (9988) and Tencent (0700) dipped 0.5 percent and 1.5 percent, respectively. Meituan (3690) declined 1.2 percent, and Xiaomi (1810) slipped 0.8 percent.
Local chipmakers rallied, with Hua Hong Grace Semiconductor gaining 2.79 percent as the best-performing blue chip, and Semiconductor Manufacturing International Corporation (0981) rising 2.59 percent after announcing its interim results yesterday. The company's third-quarter revenue rose 6.1 percent year on year to US$3.19 billion (HK$24.88 billion), and it expects revenue to rise 4-6 percent in the fourth quarter.
Link Real Estate Investment (0823) contracted 1.7 percent after reassuring shareholders of a stable rental outlook in yesterday's interim results press conference, with its total distributable amount for the first half of the 2026/2027 financial year up 0.4 percent to HK$3.3 billion.
Oil prices rose sharply, with Brent futures settling up to US$3 per barrel as escalating Middle East conflict and attacks on energy infrastructure overshadowed rising crude output. CNOOC (0883) rose 0.8 percent, and PetroChina (0857) rose 0.6 percent.
Chinese commercial aerospace company Adaspace Technology (6935) opened down 1.8 percent in its IPO debut.
