NVIDIA's sharp decline dragged down U.S. tech stocks, with the three major indices showing mixed developments on Thursday. The Nasdaq fell by as much as 2%, while the Dow Jones briefly turned negative. The Dow closed up 17 points or 0.03%, at 49,499 points; the S&P 500 dropped 37 points or 0.54%, at 6,908 points; the Nasdaq fell 273 points or 1.18%, at 22,878 points; the Golden Dragon Index, which reflects the performance of Chinese concept stocks, fell 1.78%, at 7,411 points.

NVIDIA plummeted by 5%, marking the third consecutive time it has dropped after releasing results that exceeded market expectations. Chip peers also fell, with Micron, Broadcom, and AMD all down over 3%.

The Hang Seng Index opened 66 points higher this morning, starting at 26,447 points. Tech stocks showed mixed developments, with Meituan (3690) up 0.68%; Tencent (700) down 0.29%; Xiaomi (1810) down 0.79%; Alibaba (9988) unchanged.

Baidu (9888) fell 1%, with its adjusted profit for the fourth quarter of last year down 41.8% year-on-year, but better than expected. Chow Tai Fook (659) reported a net profit of HKD 1.334 billion for the half-year, up 15.3% year-on-year, with its stock price opening down 1.2%.

HSBC (005) and AIA (1299) both rose 1.2%. WuXi Biologics (2269) rebounded by 4.8%.

Regarding the northbound capital flow, on Thursday, southbound funds net sold HK stocks worth HKD 7.366 billion. Meituan (3690), Dongfang Electric (1072), and Xiaomi (1810) saw net purchases of HKD 311 million, HKD 125 million, and HKD 18.35 million, respectively; while China National Offshore Oil Corporation (883), Alibaba (9988), and Yangtze Optical Fibre and Cable (6869) faced net sales of HKD 894 million, HKD 888 million, and HKD 625 million, respectively