HK, mainland stocks lose ground

Hong Kong's Hang Seng Index fell 0.9 percent to close at 23,651 on Wednesday. The Hang Seng China Enterprises Index fell 1.08 percent to end at 7,943, and the Hang Seng Tech Index fell 1.26 percent to end at 3,994. Mainland stocks also closed lower. The benchmark Shanghai Composite Index was down 0.6 percent to 3,713 whereas the Shenzhen Component Index closed 0.82 percent lower at 11,704. Turnover of stocks covered by these two indices totalled about 1.44 trillion yuan, down from 1.46 trillion yuan on the previous trading day. Pork as well as culture and media stocks led the gains, while batteries, energy metals and education shares were among the biggest decliners. Elsewhere, Tokyo and Seoul were boosted as chipmakers and other key players in the AI buildout boom chalked up healthy gains, following a torrid few weeks fuelled by concerns about profitability and debt financing. The Nikkei finished about 1 percent higher while the Kospi gained more than 3 percent. (Xinhua/AFP) Edited by Edmond Fong