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27.08.202602:04:51UTC+00Hong Kong Stocks Edge Down Despite Strong Nvidia Results

The Hang Seng Index slipped 0.3% (84 points) to 25,566 on Thursday, paring part of the previous session’s gains as investors stayed cautious despite robust results from Nvidia. The US chipmaker’s second-quarter revenue more than doubled year-on-year to $96.2 billion, underscoring sustained strength in AI-related demand.

Sentiment was tempered, however, by persistently high US inflation. The PCE price index held at 3.7% year-on-year in July, while core PCE was unchanged at 3.3%, keeping expectations for imminent Federal Reserve rate cuts in check.

Alibaba also remained in the spotlight after completing an HK$80 billion share placement. Concerns over aggressive AI investment plans and potential shareholder dilution continued to drag on investor confidence.

On the macro front, China’s industrial profits rose 17.6% year-on-year in the first seven months of 2026, easing from an 18.7% increase recorded in the first half of the year.

Market performance was mixed. Kingboard Laminates climbed 6.8%, Z.AI gained 4.2%, and MiniMax advanced 2.8%, while WuXi XDC fell 2.3% and Xiaomi slipped 1.0%.

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