HK stocks up as Asian markets get bout of AI jitters
Asian stocks slipped on Friday and were poised for a second straight weekly drop as investors fretted about elevated energy prices, bond market ructions and the huge sums needed to fund AI investment. In Hong Kong, the benchmark Hang Seng Index opened up 155 points, or 0.65 percent, at 23,941 and was 239 points higher in early trading. The China enterprises index rose 46 points, or 0.58 percent,…
Asian stocks were mixed on Friday, with investors concerned about rising energy prices, unstable bond markets, and the significant investments required for AI development. Hong Kong's Hang Seng Index opened higher by 155 points, or 0.65 percent, at 23,941. The China Enterprises Index rose 46 points, or 0.58 percent, to 8,057, while the tech index gained 11 points, or 0.29 percent, to 4,085.
The Shanghai Composite Index started down by seven points, or 0.21 percent, at 3,804. The Shenzhen Component Index fell 63 points, or 0.51 percent, to 12,557, and the ChiNext Index decreased 15 points, or 0.5 percent, to 3,021. South Korean markets were closed for a public holiday, and the Nikkei in Tokyo fell 393 points, or 0.57 percent, to 68,648.
US President Donald Trump stated the U.S. would not launch an attack on Iran before November's midterm elections, though traders remained doubtful of progress in ending the war. The market's mixed reaction came after OpenAI disclosed its annualized revenue was $20 billion lower than initially reported, causing tech stocks to lead Wall Street's main indices lower.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
