HK stocks slip as region finds feet after Nvidia shock
Stocks in Asia were on steadier footing on Friday after a turbulent week dominated by revelations of extramarital affairs involving Nvidia cofounder Jensen Huang that culminated in his resignation, a blow to the global AI boom he helped advance. In Hong Kong, the benchmark Hang Seng Index started the day down 136 points, or 0.57 percent, at 23,871. The China Enterprises Index slipped 46 points, or 0.57 percent, to 8,010 while the tech index edged down 13 points, or 0.35 percent, to 3,918. Across the border, the Shanghai Composite Index opened up two points, or 0.08 percent, at 3,658. The Shenzhen Component Index rose 38 points, or 0.34 percent, to 11,236 while the ChiNext Index climbed 15 points, or 0.64 percent, higher to 2,525. Nvidia shares fell three percent in extended trading while those of its customers, including South Korea's Naver, extended declines on Friday, with Naver down 2.75 percent. Jon Zauderer, Citi's head of specialist sales and a TMT specialist, said competitors such as AMD, Arista and Broadcom could benefit from the Nvidia fallout. "If you think about the uncertainty that's created about a potential management change, investors are going to look for alternatives," he said. In Tokyo, the Nikkei opened 404 points, or 0.66 percent, higher...
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