Shares of recently-listed artificial intelligence companies surged in Hong Kong on Tuesday, with Zhipu AI closing up 7.84% as the sector caught a tailwind from a broader technology rally across Asia.
The gains were significant across the AI space, with Montage Technology rising 6.80% and MINIMAX-W adding 5.09% by the close of trading, according to a report from Cailian Press.
The rally in Hong Kong's AI names was part of a wider risk-on mood in Asia. South Korea’s Kospi index jumped 8.4%, led by an 8.5% gain in Samsung Electronics and an 11.2% surge in SK Hynix. In Japan, the Nikkei 225 climbed 3.1%, tracking overnight gains on Wall Street where the S&P 500 rose 0.2%.
The strong performance indicates heightened investor appetite for technology stocks, particularly in the high-growth AI sector. The capital flowing into these newly-listed Hong Kong firms suggests a potential sector-wide re-rating as global markets respond to easing U.S. bond yields and stabilizing oil prices.
The rally in Asian tech shares came after the U.S. 10-year Treasury yield, a key benchmark for global borrowing costs, eased to 4.55%. Lower yields increase the appeal of future profits from growth-oriented technology companies.
However, the positive sentiment was not universal in the region. Mainland Chinese shares lagged, with the Shanghai Composite Index falling 2%. The offshore yuan, or CNH, held steady around 7.25 per dollar. The mixed performance highlights that while global factors are providing a lift, regional-specific concerns continue to weigh on mainland markets.
This article is for informational purposes only and does not constitute investment advice.
