Hong Kong stocks ended lower on Friday. The Hang Seng Index fell by 2.38%; the Hang Seng China Enterprises Index decreased by 2.45%; the Hang Seng Tech Index fell 3.2%.
Ganfeng Lithium, Tianqi Lithium down about 12%; SMIC, Hua Hong Semi down 6%; NIO down 5%; Alibaba, XPeng down over 4%; Zijin Mining down over 3%; Tencent down nearly 2%.
Overnight in the US, the S&P 500 Index fell 1.7 per cent, while the Nasdaq lost 2.2 per cent. The pullback underscored a sharp reversal in sentiment as worries about stretched AI valuations and heavy tech spending overshadowed Nvidia’s upbeat forecast, with the chipmaker sliding 3.2 per cent.
Persistent uncertainty over whether the Federal Reserve can cut rates next month also weighed on risk appetite after recent comments from policymakers signalled caution about easing too quickly.
One stock debuted. Harbin Shimada Big Bird Industrial jumped 322 per cent to 37.99 yuan in Beijing.
