The Hang Seng Index fell 2.1%, or 490 points, to 23,161 on Thursday, extending its recent slide as persistent weakness in technology and battery stocks outweighed gains in global markets. Sentiment remained fragile after CATL’s sharp selloff in the previous session, triggered by slower third-quarter profit growth amid intense competition and softer Chinese auto sales.
On a more positive note, Super Micro Computer’s upgraded revenue outlook bolstered expectations for AI server demand, helping technology services shares climb 2.67%.
Investors are now focused on Hong Kong’s September inflation data and the July–September unemployment figures, both due later on Thursday, for fresh insight into domestic economic conditions. Market participants are also closely watching corporate earnings and evolving expectations for US interest rates for signals that could shape risk appetite.
Among the notable decliners were Tencent (-2.1%), Lenovo (-4.9%), Xiaomi (-2.6%), AIA (-1.1%), and SMIC (-2.0%).
