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Local stocks open lower

2026-02-05 HKT 10:49
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  • The Hang Seng Index opens trading on Thursday 0.82 percent lower. File photo: RTHK
    The Hang Seng Index opens trading on Thursday 0.82 percent lower. File photo: RTHK
Hong Kong stocks opened lower on Thursday, tracking a tech-led sell-off on Wall Street overnight, as investors grew increasingly concerned about the exploding costs of AI investment and how they might disrupt jobs.

The Hang Seng Index fell 219 points, or 0.82 percent, at 26,627.

Mainland stocks also opened lower, with the Shanghai Composite Index down 0.66 percent at 4,075 and the Shenzhen Component Index losing 0.96 percent at 14,020.

The losses came after the Nasdaq 100 had its worst two-day rout since October, breaching its 100-day moving average.

The recent selloff, triggered by a new legal tool from Anthropic's Claude large language model, has wiped out about US$830 billion in market ⁠value since January 28.

Disappointing earnings results from Advanced Micro Devices didn't help either, with the chipmaker tumbling 17 percent overnight.

Still, Wall Street futures were trying to make a comeback as chip provider, Alphabet, reported solid results after the bell.

Elsewhere in Asia, markets mostly fell, as South Korea's Kospi tumbled 1.7 percent while Japan's Nikkei 225 was flat.

Much attention is on Amazon's results later in the day, as well as policy meetings from the Bank of England and the European Central Bank where rates are expected to be on hold. (Reuters/Xinhua)

Local stocks open lower