HK rises amid Anthropic IPO lift for regional markets
Asian stocks surged on Tuesday as AI bellwether Anthropic's eagerly anticipated IPO filing lifted risk appetite ahead of tech earnings that will be a test for the AI trade, and central bank meetings that will influence near-term interest rates. In Hong Kong, the benchmark Hang Seng Index opened up 48 points, or 0.21 percent, at 23,260. The China enterprises index was 14 points, or 0.18 percent, higher at 7,816 while the tech index rose 28 points, or 0.74 percent, to 3,886. Across the border, the benchmark Shanghai Composite Index opened up 0.02 percent at 3,698. The Shenzhen Component Index opened almost 57 points, or 0.49 percent, higher at 11,591 while the ChiNext Index was up 0.89 percent, to open at 2,661. The gains in Hong Kong and the mainland came as US Claude-owner Anthropic disclosed a steep loss and red-hot revenue growth in its filing for a US initial public offering, as investors increasingly dissect the potential payoff from massive AI spending and its profitability. Also boosting sentiment was Meta Platforms' plans to raise up to US$95 billion in its largest-ever equity fundraising. The currency markets are muted ahead of policy decisions from the US Federal Reserve, European Central Bank and Bank of Japan, with economists expecting...
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