Hang Seng Under Pressure, Tech Companies Leading the Losses
Hong Kong stocks continued their decline on Wednesday, with the Hang Seng Index falling 1.1% to 25,664.92, after losing 0.8% in the previous session. The decline was driven by weakness in major technology stocks such as Alibaba, JD.com, and Tencent, which fell 2.2%, 1.4%, and 1.2%, respectively. Market sentiment was also affected by concerns about an artificial intelligence (AI) bubble and uncertainty regarding the Federal Reserve's interest rate policy, which further curbed investor risk appetite.
This decline mirrored weakness in the US market after Palantir Technologies shares fell nearly 8% despite reporting better-than-expected results. Meanwhile, stocks with limited positive performance, such as Pop Mart International, which rose 2.1%, and Meituan, which gained 0.5%. In other Asia-Pacific markets, Japan's Nikkei index fell 4.2%, South Korea's Kospi fell 4.4%, and Australia's S&P/ASX 200 weakened 0.5%, reflecting broader negative sentiment across the region. (az)
Source: Newsmaker.id
