Asian stock markets closed mixed on the 3rd, with China down, Hong Kong up, South Korea plunging, and Australia rising. In China, semiconductor shares were sold off amid a global rout in AI-related stocks, dragging the Shanghai Composite Index down 0.59% to 3,809.66 and the CSI 300 Index down 0.98% to 4,543.18. In Hong Kong, Alibaba Group surged 7% after unveiling its latest AI model, helping the Hang Seng Index gain 0.48% to 26,009.40 and the Hang Seng China Enterprises Index rise 0.46% to 8,652.15. Seoul's KOSPI tumbled 5.12% to 6,257.45 as leveraged positions in major semiconductor stocks were unwound and concerns grew over the sustainability of AI investment, with Samsung Electronics falling 9% and SK Hynix dropping 8.7%. In Sydney, banking and healthcare stocks advanced on hopes of improving Middle East tensions, lifting the S&P/ASX 200 Index 0.47% to 9,019.30.
Samsung Electronics Co Ltd
Alibaba Group Holding Ltd
SK Hynix Inc