Hong Kong Shares Extend Losses Midday Amid Likely Profit-Taking -- Market Talk

Dow Jones

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0427 GMT - Hong Kong shares extend losses at midday, weighed down by tech and semiconductor stocks. Investors are likely taking profits after recent gains driven by China's positive AI developments. China's weaker-than-expected February inflation data likely dampens investor sentiment and raises concerns about weakening demand. China's largest chipmaker SMIC drops 5.6% and Hua Hong Semiconductor is 4.5% lower. Among technology stocks, Tencent falls 3.2% and Alibaba is down 4.0%. The benchmark Hang Seng Index drops 2.1% to 23720.26, and the Hang Seng Tech Index declines 3.0%. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 10, 2025 00:27 ET (04:27 GMT)

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Investors are likely taking profits after recent gains driven by China's positive AI developments. China's weaker-than-expected February inflation data likely dampens investor sentiment and raises concerns about weakening demand. China's largest chipmaker SMIC drops 5.6% and Hua Hong Semiconductor is 4.5% lower. Among technology stocks, Tencent falls 3.2% and Alibaba is down 4.0%. The benchmark Hang Seng Index drops 2.1% to 23720.26, and the Hang Seng Tech Index declines 3.0%. 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