Nvidia falls after Huang admits affair; Hong Kong stocks rise on tech gains
Nvidia dropped 3.7 per cent in US after-hours trading after CEO Jensen Huang admitted infidelity. Hong Kong stocks opened higher Monday, with the Hang Seng Index up 0.59 per cent and tech shares broadly advancing.
Nvidia fell 3.7 per cent in US after-hours trading after chief executive Jensen Huang admitted in a message to employees that he had been unfaithful to his wife, according to a report by The Standard. Nvidia’s board is also set to launch an independent investigation into claims that Huang had been targeted by Chinese spies.
Meanwhile, Hong Kong stocks opened higher on Monday on broad gains in technology shares. The benchmark Hang Seng Index rose 143 points, or 0.59 per cent, to 23,625 at the open, and the Hang Seng Tech Index advanced 1.02 per cent to 4,119.
Major tech stocks mostly gained. Alibaba and Tencent rose 2.2 per cent and 1.3 per cent respectively, while Meituan advanced 0.3 per cent. Among blue chips, Wuxi Biologics led the gains with a 2.9 per cent rise.
Xiaomi opened 2 per cent higher after reports that its electric vehicle unit had established a new international business department, covering international markets, go-to-market strategy, sales, network development, delivery and logistics, user services, general management and overseas regions.
Local chipmakers also advanced, supported by a 4.21 per cent gain in the US Philadelphia Semiconductor Index on Friday. Semiconductor Manufacturing International Corporation rose 2.2 per cent, while Hua Hong Semiconductor climbed 2.6 per cent.