Hong Kong stocks closed lower on Thursday despite Nvidia’s stronger-than-expected results and outlook, with the Hang Seng Index falling 87.23 points, or 0.34%, to 25,565.74. The Hang Seng China Enterprises Index dropped 0.51% to 8,490.31. Nvidia reported second-quarter revenue of $96.2 billion, up 18% from the previous quarter and 106% from a year earlier, while projecting roughly 70% revenue growth for fiscal 2028. The outlook helped Nvidia shares rise more than 4% in after-hours trading but did not overcome weak U.S. and China-linked equities or an emergency order signed by U.S. President Donald Trump restricting certain foreign-made energy devices from the U.S. power grid. AI-related stocks were mixed, with Zhipu, Baidu Group, optical communications companies and PCB makers gaining, while MiniMax reported rapid revenue growth alongside a wider adjusted loss. Investors are also watching Meituan’s earnings and developments around the 25,500 level, where AI-driven momentum is competing with geopolitical risks.