China's equity markets fell sharply on Thursday, while Hong Kong shares edged lower, as a global selloff in artificial intelligence-linked stocks triggered heavy losses in semiconductor and optical transceiver companies. According to Reuters, investors reassessed lofty valuations in the technology sector amid growing concerns over the sustainability of the AI-driven rally.
The benchmark CSI300 Index dropped 2.2% by the midday break, while the Shanghai Composite Index declined 1.2%. In Hong Kong, the Hang Seng Index was little changed, slipping 0.03%, while the Hang Seng Tech Index fell 1.1%.
