Hong Kong Stocks Edge Lower

The Hang Seng Index fell 0.2%, or 68 points, to around 24,280 on Wednesday, as losses in financial and technology services stocks outweighed gains in energy, electronic technology and retail shares. Asian chipmakers rebounded following heavy losses, although concerns over AI valuations, Chinese semiconductor competition and the returns on AI infrastructure spending persisted. Brent crude rose to around US$106.60 a barrel amid escalating attacks on Saudi energy infrastructure, heightening concerns over disruptions to Persian Gulf supplies and renewed inflationary pressure. Meanwhile, China's producer price inflation accelerated to 5.0% year-on-year in September, its strongest increase since June 2022, while consumer inflation edged up to 0.9%, below expectations of 1.0%. Notable decliners were Akeso (-10.1%), Z.AI Co. (-1.8%), and AIA (-1.0%). Investors also awaited US September CPI data for clues on the Federal Reserve's interest-rate outlook.