HK Stock Market Move | Apple concept stocks lead the decline, Apple's AI entry into China plan delayed again, reports say the research and development process faces technological bottlenecks.

Apple concept stocks led the decline, with Q TECH (01478) falling 8.56% to HK$12.93, FIT HON TENG (06088) falling 6.53% to HK$5.3, FIH (02038) falling 4.54% to HK$17.87, and BYD ELECTRONIC (00285) falling 0.94% to HK$35.7. On the news front, on November 2nd, well-known tech journalist Mark Gurman revealed that Apple's planned AI feature "Apple Intelligence", originally scheduled to be launched in the Chinese market in mid-2025, has yet to be realized and the release time has been further delayed. Gurman pointed out that the overall development process of Apple Intelligence is facing technical challenges, including engineering problems and poor model performance, with deployment in China being even more complex. According to Gurman, Apple had planned to advance the project through localized cooperation, but has yet to make substantial progress. It is worth noting that in Apple's third-quarter financial report, sales in Greater China fell by 3.6% year-on-year, failing to accelerate as analysts expected from over 4% growth in the second quarter to 9.3%. The performance in the third quarter indicates that after a brief rebound in the second quarter, sales in Greater China returned to the downward trend of the previous two years. In addition, research firm IDC's data shows that total shipments of smartphones in the Chinese market in the third quarter were approximately 68.4 million units, down 0.6% year-on-year, continuing on a downward trend.