{Economic Information Agency} 6th report: Democratic Party sweeping both chambers of Congress triggered concerns over restrictions on the AI industry, leading to a fierce sell-off in US stocks on Thursday (5th). Artificial intelligence and semiconductor-related shares became the hardest hit, dragging down the three major indices significantly. The Dow Jones closed down 1,833 points, the S&P 500 fell 334 points, and the Nasdaq plunged 1,421 points or 5.5%, entering a technical correction zone. Asian markets also suffered severely, with Japan plunging 6.7% and South Korea tumbling 8.6%. Hong Kong followed lower, with the Hang Seng Index opening at 24,404, down 392 points or 1.6%; board turnover amounted to HK$4.281 billion. The Hang Seng China Enterprises Index stood at 8,248, down 120 points or 1.4%. The Hang Seng Tech Index was at 4,025, down 129 points or 3.1%.
AI hardware stocks followed overseas declines: Lenovo Group (00992) dropped 9.33% to HK$17.6, falling for two consecutive days with a cumulative decline of 15.55%; Hua Hong (01347) fell 8.62% to HK$61.5; SMIC (00981) declined 6.44% to HK$44.44; Kingboard Laminate (01888) plunged 11.32% to HK$28.98; Yangtze Optical Fiber & Cable (06869) dropped 12.59% to HK$84; Zhaoyi Innovation (03986) fell 9.67% to HK$291.6.
Major tech and internet stocks declined: Alibaba (09988) opened down 3.76% at HK$105, still holding above HK$100; Tencent (00700) fell 2.18% to HK$421. Baidu (09888) dropped 4.77% to HK$76.8; Meituan (03690) fell 2.74% to HK$78.1; Kuaishou (01024) declined 3.81% to HK$28.28; Xiaomi (01810) dropped 0.96% to HK$31.
Galaxy Entertainment (00027) fell 0.11% post-earnings to HK$35; Wynn Macau (01128) declined 1.08% to HK$4.6.
Among financial stocks: HSBC (00005) dropped 2.76% to HK$137.2; Standard Chartered (02888) fell 3.86% to HK$219. However, AIA (01299) rose 0.76% to HK$79.45.
Li Ning (02331) rose 3.94%, outperforming other blue chips against the downtrend, at HK$15.3; PetroChina (00857) increased 1.54% to HK$10.52; ICBC (01398) rose 0.57% to HK$7.98. (ey)
AI hardware stocks followed overseas declines: Lenovo Group (00992) dropped 9.33% to HK$17.6, falling for two consecutive days with a cumulative decline of 15.55%; Hua Hong (01347) fell 8.62% to HK$61.5; SMIC (00981) declined 6.44% to HK$44.44; Kingboard Laminate (01888) plunged 11.32% to HK$28.98; Yangtze Optical Fiber & Cable (06869) dropped 12.59% to HK$84; Zhaoyi Innovation (03986) fell 9.67% to HK$291.6.
Major tech and internet stocks declined: Alibaba (09988) opened down 3.76% at HK$105, still holding above HK$100; Tencent (00700) fell 2.18% to HK$421. Baidu (09888) dropped 4.77% to HK$76.8; Meituan (03690) fell 2.74% to HK$78.1; Kuaishou (01024) declined 3.81% to HK$28.28; Xiaomi (01810) dropped 0.96% to HK$31.
Galaxy Entertainment (00027) fell 0.11% post-earnings to HK$35; Wynn Macau (01128) declined 1.08% to HK$4.6.
Among financial stocks: HSBC (00005) dropped 2.76% to HK$137.2; Standard Chartered (02888) fell 3.86% to HK$219. However, AIA (01299) rose 0.76% to HK$79.45.
Li Ning (02331) rose 3.94%, outperforming other blue chips against the downtrend, at HK$15.3; PetroChina (00857) increased 1.54% to HK$10.52; ICBC (01398) rose 0.57% to HK$7.98. (ey)
