Raymond James raised its PT for Broadcom (AVGO.O) to $450 from $428.

TSMC (TSM.N) CEO: Taiwan will retain a significant advantage in AI for the foreseeable future.

The HSI opened lower and extended losses, down 1.40% at midday; the Hang Seng Tech Index fell 1.43%. Heavyweight tech names Alibaba (09988.HK), Meituan (03690.HK) and Baidu (09888.HK) each slid more than 2%. Auto shares underperformed, with NIO-SW (09866.HK), Li Auto (02015.HK) and SERES (09927.HK) off over 3%. Semiconductor and chip-related stocks bucked the market: GigaDevice (03986.HK) rose nearly 10%, 02577.HK gained more than 5% and Hua Hong Semiconductor (01347.HK) climbed over 4%.