Chinese equities traded lower in early trade on Monday as a global selloff in artificial intelligence (AI)-linked stocks weighed heavily on semiconductor companies. Meanwhile, Hong Kong-listed technology firms outperformed after Alibaba unveiled its latest AI model, according to Reuters.
The benchmark CSI300 Index declined 0.7% by the midday break, while the Shanghai Composite Index slipped 0.6%. In Hong Kong, the Hang Seng Index was largely unchanged as gains in major internet stocks helped offset weakness in the broader market.
