Hang Seng falls 1.26% to 24,008.55 as tech shares weaken
Published on 11/12/2026 at 18:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSHang Seng closes lower
- The Hang Seng Index ended November 12 at 24,008.55 points, down 307.37 points or 1.26% from the previous session.
- Technology and internet stocks came under pressure as Nvidia leadership uncertainty unsettled global AI sentiment.
- Investors also weighed stronger US inflation signals and higher expectations for a December Federal Reserve rate increase.
The Hang Seng Index ended Thursday's Hong Kong session at 24,008.55 points, down 307.37 points or 1.26% from the previous close of 24,315.92. The decline kept the benchmark below the 24,000-point level for part of the session and extended weakness across major Asian equity markets.
ET Net reported that turnover on the Hang Seng Index reached 202.65 billion Hong Kong dollars. Alibaba fell 6.8% to 93.8 Hong Kong dollars, Tencent declined 2.6% to 398.8 Hong Kong dollars and SMIC lost 0.5% to 48.74 Hong Kong dollars. The Hang Seng China Enterprises Index fell 1.4%, while the Hang Seng TECH Index dropped 2.4%.
Technology sentiment drives the decline
The selling pressure reflected a broader retreat in technology and semiconductor shares. The Edge said Asian chipmakers and data-center operators were pressured after Nvidia shares fell in after-hours US trading following reports about possible changes involving chief executive Jensen Huang. The report described the development as a source of uncertainty for the global artificial-intelligence sector rather than as a confirmed management change.
Within Hong Kong, the weakness was concentrated in several large technology and internet names. Alibaba was the largest decliner among the companies highlighted by ET Net, while some domestic graphics-processing-unit stocks moved against the wider trend. That divergence suggests that investors were reducing exposure to established and higher-beta technology names while continuing to differentiate between parts of China's semiconductor market.
Rates remain a second pressure point
Market sentiment was also affected by expectations for US monetary policy. The Edge noted that stronger US inflation data and comments from Federal Reserve officials contributed to expectations of a December rate increase. Higher expected interest rates can weigh on long-duration growth valuations, although the day's index move should not be attributed to a single factor.
For the next regional session, The Edge identified the US Bureau of Labor Statistics' October producer-price release, scheduled for Friday, November 13, as a data point to watch. Investors may use that report to reassess the path of US rates and the sensitivity of technology shares to changes in bond yields. Further coverage is available on the Hang Seng topic page.
