Hong Kong stocks experienced a slight increase on Tuesday, buoyed by a tech rally following Amazon’s US$38 billion partnership with OpenAI. The Hang Seng Index rose 0.1% to 26,195.21, building on Monday’s 1% gain. Conversely, the Hang Seng Tech Index dipped 0.3%. Mainland stocks faced declines, with the CSI 300 Index down 0.3% and the Shanghai Composite Index slipping 0.1%.
Tech companies drove the market forward, with Baidu soaring 6.8% to HK$126.60 and Tencent Holdings gaining 1.4% to HK$636.50. However, electric-vehicle maker Li Auto fell 2.7% to HK$78.70, alongside JD.com and sportswear brands Li Ning and Anta Sports.
The surge in Hong Kong’s tech sector mirrored a broader uptick in US AI-related stocks, fueled by Amazon’s significant investment in AI infrastructure. This momentum reflects ongoing excitement in global equities amidst uncertainty over US Federal Reserve monetary policies.
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