China benchmark down 0.25%

Negative sentiment prevailed in Asian stock markets, dragged down by concerns over the tech sector. Sentiment was pressured by the sell offs in Wall Street triggered by mounting worries about the impact of AI on software companies. Heightened volatility observed in metals and cryptocurrency markets further dampened risk appetite in Asian markets. Equity markets in New Zealand remained closed for a holiday.

Concerns over AI that triggered losses in Wall Street spilled over into mainland China. China's Shanghai Composite Index shed 0.25 percent from the previous close of 4,075.92 to finish trading at 4,065.58. The day's trading ranged between 4,095.03 and 4,029.97. The Shenzhen Component Index closed at 13,906.73, losing 46 points or 0.33 percent from the previous close of 13,952.71.

 

The Hang Seng Index of the Hong Kong Stock Exchange shed 325 points or 1.2 percent from the previous close to finish trading at 26,559.95. The day's trading range was between a high of 26,710.34 and a low of 26,295.03.

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