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Aileen Chuang

Chinese technology stocks are gaining momentum as they emerge largely unscathed from the US-Iran conflict and artificial intelligence “scare trades”, with agentic AI breakthroughs like OpenClaw sparking fresh monetisation hopes, according to investment experts.
Global markets have been hit in recent weeks by an oil-price shock linked to the war in the Middle East, as well as an AI-driven sell-off over fears the technology could wipe out white-collar jobs.
However, Chinese tech stocks remained steadier than their regional and US peers during the period. The MSCI China Tech 100 Index eased 1 per cent, while the Stoxx Asia Technology 100 fell 10 per cent and the Nasdaq 100 dropped 2.3 per cent. Energy and key materials disruptions have dampened sentiment towards the AI supply chain in the region excluding China.
Chinese tech companies were largely insulated from external shocks thanks to their relatively cheap valuations as investors sought diversification, as well as their own aggressive push to review their business models, said Oliver Cox, portfolio manager for emerging markets and Asia-Pacific equities at JPMorgan Asset Management.
“[China’s software companies] are already pushing hard on their AI strategies, so AI disruption is there,” Cox said. He added that these firms tended to be consumer-facing, focusing on growth and penetration, while US counterparts primarily catered to enterprises that might develop their own AI tools in the future.
China’s “starting valuation” also had an edge amid market corrections, Cox said. He co-manages the JPMorgan Pacific Technology fund, which allocated 31.1 per cent to China and gained 10.7 per cent this year through January 30, according to its fact sheet.
“Investors who have benefited from the strong rally in US tech stocks over the past couple of years may seek diversification, especially with Chinese tech valuations still looking relatively cheap,” said Vey-Sern Ling, senior equity adviser for Asia technology at UBP.
“The US market is debating who defends profit pools, while China is still debating how fast AI penetrates the economy and shows up in adoption,” said Charu Chanana, chief investment strategist at Saxo Markets.
With eyes on how Chinese tech companies monetise AI going forward, the mainland’s recent frenzy over open-source AI agent OpenClaw may signal a way forward.

Internet giants – including Tencent Holdings, South China Morning Post owner Alibaba Group Holding and ByteDance – have already integrated OpenClaw into their platforms, while start-ups such as MiniMax and Zhipu AI took similar steps and saw their share prices soar.
Interest in OpenClaw has expanded beyond tech enthusiasts to ordinary Chinese people, even as Beijing issued warnings about security and data risks tied to the software.
Market reactions to AI agents – intelligent systems that can perceive information, make decisions and carry out tasks – had prompted some major Chinese players to recognise a potential path to monetisation, Cox said.
“It’s still early days, but we will see how they monetise AI. All the agent activity means a lot more compute and data centres to support [it],” he added. “That’s why we remain very positive and believe we are still in the middle of the [AI capital expenditure] cycle.”
Cox pointed to some Chinese AI hardware supply-chain winners, such as those making printed circuit boards and networking hardware.
To be sure, risks remain across markets. “In China, the uncertainty is earnings quality and whether the bid is sustainable”, while the US defended valuations and profit pools, Chanana said.
She added that the key risk for China tech was AI becoming widespread yet commoditised, creating heavy usage but limited profits.
“The Chinese tech companies are very consumer-facing and consequently more dependent on the economy,” said UBP’s Ling. “Forceful economic stimulus can probably do more for China tech stock prices than any AI innovation.”
Despite last week’s regional pullback, Cox said his confidence in Asian tech stocks remained strong, citing surging AI demand and a supply side still struggling to catch up.
This is the moment to “lean into the correction and increase exposure”, he said.


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Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say


Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say.


Hopes of AI monetisation to boost China tech stocks amid war, market scares

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say

Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say