{
  "id": 9306685,
  "title": "AI excitement fails to lift HK, China stocks",
  "url": "https://urgent.news/2026/09/23/ai-excitement-fails-to-lift-hk-china-stocks",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-23T09:08:06.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1871247-20260923.htm"
  },
  "original_language": "en",
  "account": "Asian markets experienced a mixed performance on Wednesday, with the Hang Seng Index closing one percent lower at 24,834 after Alibaba announced plans to expand its overseas data centers. The tech giant, a leading player in China's AI industry, said the move would target European and Middle Eastern markets. Mainland China's Shanghai Composite Index dropped 0.39 percent to 3,936 points, while the Shenzhen Component Index fell 0.64 percent to 13,636 points. This announcement comes amid a renewed surge of confidence in artificial intelligence this week, with AI companies Anthropic and OpenAI releasing new, more affordable AI models back-to-back. Anthropic is set to debut on the stock market in the coming weeks, while OpenAI has postponed its IPO plans until next year. Despite the mixed outlook in the tech sector, consumer interest in AI apps boosted tech stocks in other parts of Asia. South Korean stocks rose 0.9 percent, driven by Samsung, which increased nearly one percent. Analysts are now watching to see how Google's new AI product, CC, from Alphabet's Google Labs, will perform in the market. Meanwhile, President Xi Jinping is set to visit Washington later on Wednesday, amid speculation that a trade truce between China and the United States might be extended, potentially leading to cooperation on AI. Japan's markets were closed for a holiday, but Nikkei futures were trading at 66,775, roughly 1,760 points higher than last week's closing figure. Researcher Chris Weston from broker Pepperstone expects a strong reopening in Japan tomorrow, with additional declines in crude prices, stable interest rates, and Treasuries, as well as the Nasdaq's all-time high performance in cash and futures markets. Memory stocks have gained momentum, backed by a strong day for semiconductors, which have recorded a sixth consecutive day of gains. Additionally, SoftBank's US$10 billion debt deal has reportedly drawn more than US$20 billion in indications of interest, making it one of the largest junk bond deals ever.",
  "summary": "Asian markets were mixed on Wednesday, with the Hang Seng Index closing one percent down to finish at 24,834 shrugging off an announcement by tech giant Alibaba that it would expand its overseas data centres. The firm, one of the frontrunners in China's AI industry, said the move would target markets across Europe and the Middle East. On the mainland, the benchmark Shanghai Composite Index down…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}