Hong Kong Stocks Trade Lower

The Hang Seng Index fell 0.4% on Wednesday, as weakness in technology and consumer shares weighed on sentiment amid concerns over tighter AI regulations in the US. US stock futures declined, with Nasdaq 100 futures down 0.9% and S&P 500 futures losing 0.5%, as investors assessed the potential implications of a Democratic victory in the midterm elections. However, stronger-than-expected third-quarter results from AMD boosted semiconductor shares in after-hours trading, offering some support to technology stocks. Meanwhile, the CSI 300 slipped 0.2% in the previous session despite Beijing's market-support measures. Hong Kong's GDP growth accelerated to 5.2% year-on-year in Q3 from 4.2% in Q2. Among notable movers, Xiaomi (-2.2%), Trip.com (-2.6%) and Meituan (-1.4%) declined, while SMIC (1.1%) and Wuxi Biologics (4.3%) advanced. Investors also monitored China's currency policy after the PBoC announced plans to raise the foreign exchange reserve requirement ratio to curb yuan appreciation.