The Hang Seng Index fell 0.9% to 26,518.27 on Friday morning (9:50 a.m. local time), following a pause in the Wall Street rally and concerns that AI hype has led to overpriced valuations. The biggest pressure came from large tech stocks: Baidu -3.2%, Alibaba -2.2%, JD.com -1.9%, followed by Li Auto -3.3% and Zijin Mining -4.5%. The Hang Seng Tech Index also fell 2.3%, putting the Hang Seng on track for its worst weekly decline in 10 weeks.
Several stocks held off further losses: Pop Mart +1.6%, Trip.com +0.2%, and Hang Seng Bank +0.2%—continuing the previous day's 26% surge following HSBC's privatization proposal at HK$155 per share. In mainland China, the CSI 300 index (CSI) fell 0.6% and the Shanghai Composite index (SHS) fell 0.5%, adding to market caution regarding the technology sector and regional sentiment. (az)
Source: Newsmaker.id
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