Hong Kong: Stocks Retreats.

The Hang Seng Index fell 0.6% to 24,410 on Wednesday, as profit-taking following recent gains, weakness in global technology stocks and concerns over higher US interest rates. US equities retreated overnight after hotter-than-expected consumer inflation and hawkish Federal Reserve comments reinforced expectations of a December rate hike. The Nasdaq Composite dropped 1%, while Nvidia tumbled 6.5% amid concerns over its market position and complications surrounding its Ohio data-center project. US-China AI competition and uncertainty over technology cooperation ahead of the November 18–19 Trump-Xi meeting added to sector concerns. Alibaba fell 2.87%, while recent losses in Meituan following a broker downgrade highlighted persistent competition in China’s internet sector. Technology, finance and biotech shares led local declines, with Tencent (-1.6%), Z.AI Co. (-2.7%), MiniMax (-4.0%), AIA (-0.3%) and Manycore Tech (-2.3%) among the notable laggards.