HK, region mixed as Nvidia faces crunch on Huang sack
Asian stocks wobbled at the start of regional trading on Thursday, while Nvidia shares plunged in after-hours trading on news that its board may oust longtime chief executive Jensen Huang. In Hong Kong, the benchmark Hang Seng Index opened down 194 points, or 0.8 percent, at 24,121. The tech index fell 32 points, or 0.8 percent, to 3,995 while the China Enterprises Index slipped 66 points, or 0.81 percent, to 8,105. On the mainland, the Shanghai Composite Index inched down seven points, or 0.21 percent, to open at 3,673. The Shenzhen Component Index was 28 points, or 0.25 percent, lower at 11,361 while the ChiNext Index was down 0.5 percent at 2,559. Nvidia's board is meeting late on Wednesday to decide whether to oust Huang, a source said, as the world's dominant supplier of AI processors grapples with the fallout of allegations that he had an affair with a suspected spy for China. The New York Times has also reported that Huang had had an affair with a company executive who reported to him. "It looks bad from every single angle," said Jake Dollarhide, chief executive at Longbow Asset Management in Tulsa, Oklahoma. "I believe the board won't oust him until they have an all-star, a known entity...
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