The Zhitong Finance App learned that the Hong Kong Stock Hang Seng Index fell 1.47% to 358 points to 23,955 points; the Hang Seng Technology Index fell 2.94%. Hong Kong stocks traded HK$113.8 billion in early trading.
Hengrui Pharmaceutical (01276) increased by more than 3%, and the self-developed injection SHR-3201 for AD treatment was approved for clinical trials.
Guoen Technology (02768) rebounded more than 12% after earnings. Net profit returns to the mother are expected to increase as high as 78.84% year-on-year in the first three quarters.
Inflation and the AI valuation bubble are worried about impacting AI hardware. Changfei Optical Fiber Cable (06869) fell more than 13%, and Lanqi Technology (06809) fell more than 11%.
ASMPT (00522) fell by more than 8%. According to reports, SK Hynix postponed some HBM4 back-end equipment orders.
The mobile phone industry chain has declined across the board. Domestic mobile phone shipments in the third quarter hit a new year-on-year low in 13 years, and global mobile phone shipments also plummeted. Hongteng Precision (06088) fell 7%; Fuzhikang Group (02038) fell 5%.
Non-ferrous metals stocks collectively declined. US inflation in September exceeded expectations and boosted interest rate hikes, putting pressure on most non-colored commodities. Minmetals Resources (01208) fell 6%; Luoyang Molybdenum Industry (03993) fell 5%.
Lithium battery concept stocks continued to decline, and tax rebate cuts weakened expectations of vehicle export demand, or further spread to upstream lithium batteries. Ningde Era (03750) fell 6%; China Airlines (03931) fell 4%.
Zoomlion Heavy Industries (01157) fell by more than 4% and plans to sell about 29.99% of Lu Chang Technology's shares for 899.7 million yuan.
Johnson Electric Holdings (00179) fell more than 6%. The stock price was already falling back during the year, and exchange and costs dragged down medium-term profit.