3191.HK is trading at HK$84.70 (-3.00%) as weak China composite PMI of 49.5 reinforced concerns about domestic semiconductor demand and growth.
- Global technology sentiment weakened after NVIDIA fell 4.57% on August 28 despite strong results, pressuring semiconductor valuations.
- A hawkish Federal Reserve tone and softer global equity futures further reduced risk appetite for high-growth Chinese chip stocks.
- The move appears sector-driven rather than attributable to one company.