Global Market: Hong Kong stocks slump to four-month low as China stimulus hopes fade
17 Articles
17 Articles
The Economic Times
Times of IndiaGlobal Market: Hong Kong stocks slump to four-month low as China stimulus hopes fade
Hong Kong stocks plunged to a four-month low, while mainland Chinese blue-chip shares approached bear-market territory as technology stocks sold off. Weak stimulus expectations, concerns over economic imbalances and broader AI-related market losses weighed on investor sentiment.
China Stocks Set for Bear Market as AI Trade, Policy Hopes Fade
Hong Kong stocks continued their nearly two-month-long weakness today (22nd), closing sharply lower. The Hang Seng Index fell 717 points, or 3.03%, to close at 22,934, with a total turnover of HK$256 billion. In the market downturn, artificial intelligence (AI) stocks were the main target of investor sell-offs, with most experiencing declines of over 5%. Among them, Smart Spectrum fell 7.09% to HK$460, Yangtze Optical Fibre fell 11.79% to HK$11…
Asian stocks were in a bearish mood on Thursday morning, with artificial intelligence (AI) companies once again among the biggest losers, while China's broad stock index plunged into a so-called bear market.
Growing concerns about large-scale AI investments were the backdrop as the Hong Kong stock market fell more than 3 percent on Thursday.
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