Hong Kong-listed AI stocks rallied on Tuesday, led by a 12.71 percent surge in recent debutant Tianshu Zhixin (天数智芯, 09903.HK), even as broader Asian markets faltered on concerns over high oil prices and AI valuations.
The targeted buying highlights growing investor appetite for specific Chinese AI plays, even as the global tech sector faces scrutiny. While giants like Microsoft and Google are spending hundreds of billions on AI infrastructure, questions about the durability of the boom and high valuations persist, creating opportunities for investors to seek value in more focused, recently-listed companies.
The rally saw Tianshu Zhixin close at its session high. Peers also advanced, with server chip maker Montage Technology (澜起科技, 06809.HK) climbing 5.42 percent and AI model developer MINIMAX-W (00100.HK) adding 5.05 percent. The move came on a day of weakness for regional benchmarks, with Hong Kong's Hang Seng Index falling 0.7 percent and mainland China's Shanghai Composite dipping 0.1 percent.
The outperformance of the AI sector occurred within a cautious regional environment. Asian markets delivered a mixed performance after the Bank of Japan held its key interest rate steady, signaling a gradual path toward future tightening. The U.S. 10-year Treasury yield held steady near 4.37%, while the onshore Yuan (USD/CNH) was little changed. Traders pointed to ongoing geopolitical tensions and disruptions near the Strait of Hormuz, which have kept oil prices near multi-week highs and fueled inflation concerns, weighing on general risk appetite. A Wall Street Journal report that OpenAI missed internal revenue targets also added to uncertainty in the AI sector globally, making the focused rally in Hong Kong a notable exception.
This article is for informational purposes only and does not constitute investment advice.
