The Hang Seng Index fell 0.08%, or 20 points, to 23,952, while the Hang Seng Tech Index rose 0.27%. Morning turnover in Hong Kong reached HK$54.6 billion.

Strong AI demand is driving both prices and volumes higher in the PCB sector. Kingboard Laminates Holdings Ltd (HKG: 1888) surged more than 9%, and Kingboard Holdings Ltd (HKG: 0148) gained over 7%.

Lenovo Group Ltd (HKG: 0992) climbed 4.9%, leading blue-chip gains. With its AI business growing rapidly and order books full, CLSA reiterated the company as its top pick among Chinese tech stocks.

Overnight, US optical communication and other tech stocks rallied together, lifting most optical communication concept shares. Hygon Information Technology (HKG: 1191) rose more than 5%, and Cambridge Technology (HKG: 6166) also gained over 5%.

With orders fully booked, SICC Advanced (HKG: 2631) advanced 5%, as substrates may continue to see price increases in 2027.

Longsys (HKG: 9976) rose 2.5%. The company will be included in the Stock Connect on October 8, and the memory shortage may persist until 2028.

Zhipu (HKG: 2513) gained more than 5%. Its monetization path has become clearer, and Goldman Sachs believes its valuation is now attractive.

GenScript Biotech Corp (HKG: 1548) added another 3.8%, approaching a record high, following its recent AI drug discovery collaboration with Lilly TuneLab.

Sanhuan Group (HKG: 6951) rose more than 5%. MLCC prices have seen a wave of increases this year, with the industry shifting from a price cycle to structural shortages.

Chi Fung Industrial Electronics (HKG: 1710) plunged more than 14% after trading resumed. Luxshare Precision plans to acquire 75% of the company, which may trigger a mandatory general offer.

NagaCorp Ltd (HKG: 3918) dropped more than 12%, as gross gaming revenue for the first three quarters fell 21.5% year-on-year.

Budweiser Brewing Company APAC Ltd (HKG: 1876) declined 1.94%, as internal restructuring and provisions will affect third-quarter profit.