Hong Kong stocks rebound in relief rally as global AI scare fades



Hong Kong stocks rose in a relief rally on Wednesday as concerns about artificial intelligence disruption eased.

The Hang Seng Index climbed 0.6 per cent to 26,739.79 as of 9.48am local time. The Hang Seng Tech Index gained 1 per cent.

On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.5 per cent.

Hotpot restaurant operator Haidilao International Holdings rallied 4.6 per cent to HK$17.26 and Anta Sports Products gained 3.6 per cent to HK$87.55. Alibaba Group Holding added 1 per cent to HK$149.50 and Tencent Holdings rose 1.2 per cent to HK$526.

Local stocks tracked a rebound in global tech shares overnight after jitters faded that AI could upend business models across industries from software to logistics and wealth management. Investors were also awaiting earnings from AI chipmaker Nvidia due on Wednesday, which could reshape expectations for the AI trade.

Other major Asian markets all rose. Japan’s Nikkei 225 gained 1.3 per cent, Australia’s S&P/ASX 200 added 1 per cent and South Korea’s Kospi rallied 1.7 per cent.

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