Hang Seng Tech Index Opens 3.11% Lower as Zhipu Falls 8.82%

Hong Kong tech shares opened lower Friday, Nov. 6, with the Hang Seng Tech Index down 3.11% as Zhipu fell 8.82% and two optical communications stocks lost more than 11%.

The broader Hang Seng Index was down 1.58% at the open. The technology benchmark's decline was 1.53 percentage points deeper, putting it close to twice the broader index's loss.

Optical communications stocks recorded the steepest moves among the four companies. 长飞光纤光缆 fell 12.59%, and 中际旭创 declined 11.06%.

AI model shares also moved lower. Zhipu's decline exceeded MINIMAX-W's 7.4% drop by 1.42 percentage points. Both optical communications stocks fell more than either AI stock.

All four company shares and both indexes were lower at the open. Individual stock declines ranged from 7.4% to 12.59%, with the sharpest losses in optical communications and the tech index falling nearly twice as much as the broader Hang Seng gauge.