Hong Kong Shares Fall, Weighed by Tech, Chip Stocks -- Market Talk

Dow Jones

02-25

0132 GMT - Hong Kong shares open lower, dragged by tech and semiconductor stocks. The benchmark Hang Seng Index declines 2.7% to 22716.48 and the Hang Seng Tech Index falls 4.3%. The positive sentiment driven by the emergence of DeepSeek has started to ebb. Investors are watching the Hong Kong budget due Wednesday. Tech stocks lead losses. Alibaba Group slides 7.8%, Kuaishou Technology drops 5.3% and JD.com falls 5.0%. Among chip stocks, SMIC falls 4.7%. Meanwhile, PetroChina rises 0.3% and Cnooc is up 0.2%. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

February 24, 2025 20:32 ET (01:32 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The benchmark Hang Seng Index declines 2.7% to 22716.48 and the Hang Seng Tech Index falls 4.3%. The positive sentiment driven by the emergence of DeepSeek has started to ebb. Investors are watching the Hong Kong budget due Wednesday. Tech stocks lead losses. Alibaba Group slides 7.8%, Kuaishou Technology drops 5.3% and JD.com falls 5.0%. Among chip stocks, SMIC falls 4.7%. Meanwhile, PetroChina rises 0.3% and Cnooc is up 0.2%. 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The benchmark Hang Seng Index declines 2.7% to 22716.48 and the Hang Seng Tech Index falls 4.3%. The positive sentiment driven by the emergence of DeepSeek has started to ebb. Investors are watching the Hong Kong budget due Wednesday. Tech stocks lead losses. Alibaba Group slides 7.8%, Kuaishou Technology drops 5.3% and JD.com falls 5.0%. Among chip stocks, SMIC falls 4.7%. Meanwhile, PetroChina rises 0.3% and Cnooc is up 0.2%. 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The benchmark Hang Seng Index declines 2.7% to 22716.48 and the Hang Seng Tech Index falls 4.3%. The positive sentiment driven by the emergence of DeepSeek has started to ebb. Investors are watching the Hong Kong budget due Wednesday. Tech stocks lead losses. Alibaba Group slides 7.8%, Kuaishou Technology drops 5.3% and JD.com falls 5.0%. Among chip stocks, SMIC falls 4.7%. Meanwhile, PetroChina rises 0.3% and Cnooc is up 0.2%. (jiahui.huang@wsj.com; @ivy_jiahuihuang) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 24, 2025 20:32 ET (01:32 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}