Hong Kong stocks rebound in relief rally as global AI scare fades
Hang Seng Index climbs as concerns over AI disruption ease, with investors awaiting Nvidia earnings to gauge sentiment
The Hang Seng Index climbed 0.7 per cent to 26,765.72 at the close. The Hang Seng Tech Index slipped 0.2 per cent. On the mainland, the CSI 300 Index advanced 0.6 per cent and the Shanghai Composite Index added 0.7 per cent.
An overnight rebound in US equities provided relief to Hong Kong stocks, which were roiled by the so-called AI scare over the past few days. Such fears blew over after start-up Anthropic said that it sought to build partnerships, meaning that its Claude chatbot would integrate with existing business models rather than displacing them.
“Traders have stopped arguing theology and started trading momentum,” said Stephen Innes, a managing partner at SPI Asset Management. “Asian equity markets leaned into the relief momentum. AI panic has been dialled back from existential to cyclical.”
Volatility in global stocks remained elevated over the past week, with sentiment rattled by concerns over AI’s disruptive potential across industries from software to logistics and wealth management. Adding to the uncertainty was the Trump administration’s unpredictable tariff policy, which imposed a universal 15 per cent rate after sidestepping a Supreme Court ruling.