TREE NEWS reports: The Shanghai Composite reversed early losses to close up 0.16%, lifted by lab-grown diamond and pharmaceutical shares, while Hong Kong’s Hang Seng rose 0.35% at midday and the Hang Seng Biotech Index jumped over 3%. South Korea’s Kospi fell more than 2% as slowing AI development and a surge in oil prices hit Japanese and Korean markets. Shanghai crude futures rose over 11% intraday to top 900 yuan a barrel for the first time since listing.
China’s Shanghai Composite Edges Up 0.16%; Seoul Sinks Over 2% on AI Slowdown, Oil Spike
AI take
The divergence is the story: mainland China's rebound was narrow, carried by lab-grown diamonds and pharma rather than broad risk appetite, while Korea's selloff ties AI sentiment directly to energy costs. That Shanghai crude's record run coincides with an AI slowdown suggests input-cost pressure is now part of the tech trade, not a separate macro concern. Whether the Hang Seng biotech rally and the oil spike keep moving in opposite directions is the open question.
Generated by AI for reference only.
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