HK Stock Market Move | Power equipment stocks among the biggest decliners; Oracle sends force majeure notices seeking to delay payments; data center supply chain may come under pressure.

Power equipment stocks were among the biggest decliners. As of press time, Weichai Power (02338) fell 4.85% to HK$27.92; Shanghai Electric Group (02727) dropped 4.50% to HK$2.865; Dongfang Electric Corporation (01072) declined 3.28% to HK$17.68; CHONGQING M&E (02722) fell 2.37% to HK$1.645. On the news front, Oracle sent a force majeure notice to Blue Owl Capital regarding its Project Jupiter data center in New Mexico. If the project is delayed, Oracle is seeking to postpone payments. Affected by this, Blue Owl Capital and Bloom Energy both closed down more than 3% in overnight US trading. It is understood that Project Jupiter uses Bloom Energy's fuel cells. Notably, investor concerns over the project's outlook have spread from core participants to the surrounding supply chain, while growing public resistance to data center construction is also adding selling pressure. Marc Hackett of Nationwide pointed out that this resistance, combined with uncertainty over capital expenditure expectations, has left power equipment and construction machinery stocks bearing the brunt.