Chinese chip stocks rallied in Hong Kong. Iluvatar CoreX rose 12%; Biren Tech rose 8%; CFMEE and Longsys fell 6%; Viewtrix Tech rose 5%; Hua Hong Grace and SMIC rose 4%.

Nvidia's board is meeting on Wednesday to decide whether to oust CEO Jensen Huang, a source ​familiar with the matter told Reuters, as the world's dominant supplier of AI processors grapples with reports of two extramarital affairs involving its longtime leader.