HK Stock Market Move | LENOVO GROUP (00992) falls over 7%, currently the worst-performing blue chip; Intel warns of another 10% contraction in the PC market next year

LENOVO GROUP (00992) fell over 7%, temporarily leading the decline among blue-chip stocks. As of press time, it was down 6.96% at HK$20.6, with a turnover of HK$2.797 billion. On the news front, Intel's weak business outlook reflects the poor performance of the PC market. Dell Technologies fell nearly 7% after hours, while HP and Hewlett Packard Enterprise fell nearly 6%. The company expects the global PC market to shrink 10% in 2027, after already declining 12% in 2026. In addition, the divergent earnings of US tech giants have further intensified market concerns over the AI investment return cycle. Orient said in a recent research report that some investors are concerned about the pressure on Lenovo's performance from declining shipments in markets such as PCs. The bank believes the company is expected to offset the impact of falling sales through higher average selling prices, a larger share of high-end products, a better AI PC product mix, and procurement scale.