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<H Shrs>HSI Finishes Down 615Pts; AI Concepts & Pharmas Soft
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The HSI plunged 615 points, or 2.4%, to close at 25,220. The HSCEI slid 223 points, or 2.4%, to close at 8,919. The HSTECH sank 179 points, or 3.2%, to close at 5,395. Total market turnover was HK$285.702 billion.

AI concept stocks tapered off. BABA-W (09988.HK) and BIDU-SW (09888.HK) tumbled 4.7% and 5.8% respectively. MEITU (01357.HK) and GDS-SW (09698.HK) cratered 4.9% and 4.2% respectively. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) each tumbled over 6%. Chip equipment stock ASMPT (00522.HK) fell off 6.1%. Shares related to telecom infrastructure, ZTE (00763.HK) and YOFC (06869.HK), slumped 4.2% and 6.5% respectively.

Related NewsRetail Sales YoY for Oct in China is 2.9%, lower than the previous value of 3.0%. The forecast was 2.7%.
Healthcare stocks, expected to ride on AI, were meager. JD HEALTH (06618.HK), a healthcare platform, plunged 6.6%, while ALI HEALTH (00241.HK) and PA GOODDOCTOR (01833.HK) stumbled over 4%. Pharmaceuticals, including PHARMARON (03759.HK), WUXI BIO (02269.HK), INNOVENT BIO (01801.HK), AKESO (09926.HK), CANSINOBIO (06185.HK), and GENSCRIPT BIO (01548.HK), cascaded 5-6%. CSPC PHARMA (01093.HK), WUXI APPTEC (02359.HK), and BEONE MEDICINES (06160.HK) nosedived 4.4-4.6%.

Among other techs, XIAOMI-W (01810.HK) added 1%, while TENCENT (00700.HK) and KUAISHOU-W (01024.HK) sank 1.8% and 1.5% respectively. BILIBILI-W (09626.HK), JD-SW (09618.HK), and MEITUAN-W (03690.HK) lost 2.3-3%. NEW ORIENTAL-S (09901.HK) and CHINASOFT INT'L (00354.HK) skydived over 4%, and TME-SW (01698.HK) eroded 6%. NTES-S (09999.HK) logged a 27% rise in 3Q non-GAAP net profit, in line, but its stock stumbled 3.8% along with the broader market.
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