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The Hang Seng Index fell 0.3 per cent to 25,391.46 at 10.10am local time. The Hang Seng Tech Index dropped 1.2 per cent.
On the mainland, the CSI 300 Index slid 0.5 per cent and the Shanghai Composite Index added less than 0.1 per cent.
Xiaomi, the Chinese smartphone and electric vehicle maker, tumbled 2.5 per cent to HK$40.20 and search engine operator Baidu sank 1.9 per cent to HK$116.40. Alibaba Group Holding lost 1.2 per cent to HK$144.30 and Tencent Holdings slipped 0.1 per cent to HK$604.50. Pop Mart International Group, maker of blockbuster plush toy Labubu, shed 2.8 per cent to HK$190.40.
The pullback mirrored the overnight rout in US equities, with the Nasdaq 100 losing almost 2 per cent after a long-time partner of Oracle said it would not finance the company’s investment in AI infrastructure. The episode added to concerns about the scale of AI spending by US tech companies and whether they can deliver returns investors expect.
Investors are also keeping an eye on the US November inflation data due on Thursday night. A soft reading will bolster the case for the Federal Reserve to cut interest rates in January, a move that could ease concerns about the lofty valuations of AI-linked stocks.
