HK, mainland rise as tech fears weigh on Nikkei, Kospi
Asian share markets mostly slipped on Monday as worries about the sustainability of the AI investment boom loomed over the tech sector, while the high price of oil limited the safe-haven appeal of sovereign bonds. In Hong Kong, the benchmark Hang Seng Index opened up seven points, or 0.03 percent, at 23,301. The tech index rose 20 points, or 0.55 percent, to 3,775 while the China enterprises index edged up 14 points, or 0.18 percent, to 7,876. The Shanghai Composite Index opened 15 points, or 0.4 percent, higher at 3,614. The Shenzhen Component Index was 63 points, or 0.59 percent, up at 10,897 while the ChiNext Index rose 25 points, or 1.05 percent, to 2,439. In Tokyo, the Nikkei opened 318 points, or 0.51 percent, lower at 62,972, moved up into positive territory before slipping again to be 215 points lower at one stage before lunch. In Seoul, the Kospi opened 92 points, or 1.62 percent, down at 5,637 before regaining ground to be 87 points higher at one stage before noon. The mixed openings came as concerns about negative cash flow and the sheer scale of AI capex saw the cost of insuring against corporate defaults blow out last week, while gold hit a one-year low...
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