AI Investment Fears Weigh on Hong Kong Stocks as Tech Index Hits Two-Year Low
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On 21 October 2026, Asian stock markets fell broadly amid concerns that tech companies will cut artificial intelligence investment and with worries over the rate-hiking cycle persisting. Hong Kong's Hang Seng Index fell more than 1 per cent, down over 300 points, while the tech index hit a two-year low. In the region, South Korea's KOSPI index fell nearly 4 per cent, dragged down by declines in SK Hynix and Samsung Electronics shares. The report also noted that several AI-related recently listed stocks conducted large-scale share placements after their lock-up periods expired, with subscribers holding losses to date; among them, the first batch of buyers of Zhipu shares lost as much as about 70 per cent.
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- 明報·每日經濟AI Investment Cut Fears Send Tech Index to Two-Year Low as Hang Seng Falls More Than 300 Points
On worries that tech firms will cut artificial intelligence investment, plus lingering concerns over the rate-hike cycle, Asian stock markets fell broadly. Hong Kong's Hang Seng Index dropped more than 1 per cent, down over 300 points, while the tech index hit a two-year low. South Korea's KOSPI fell nearly 4 per cent, dragged down by declines in SK Hynix and Samsung Electronics shares. Several AI-related recently listed stocks raised large sums through share placements after their lock-up periods expired, and subscribers who still hold the shares are all sitting on losses, with the first batch of Zhipu buyers losing up to about 70 per cent.
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