AI companies boost Chinese stocks

Chinese stocks rallied on Wednesday led by gains in artificial intelligence stocks, but the benchmark CSI300 index was still hovering around four-month lows on concerns over weak domestic economic data.

China’s artificial intelligence index jumped 3.7% as domestic companies moved quickly to attract users of OpenAI technology.

The US company plans to restrict access in China and other countries to its Application Programming Interface, a platform that allows developers of other products to integrate their own artificial intelligence models.

At the close, the Shanghai index rose 0.76%, while the CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, rose 0.65%. Hong Kong’s Hang Seng Index gained 0.09%.

In TOKYO, the Nikkei index rose 1.26% to 39,667 points.

. In HONG KONG the HANG SENG index rose by 0.09% to 18,089 points.

. In SHANGHAI the SSEC index gained 0.76%, to 2,972 points.

. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, advanced by 0.65%, to 3,480 points.

. In SEOUL, the KOSPI index rose 0.64% to 2,792 points.

. In TAIWAN the TAIEX index recorded an increase of 0.48%, to 22,986 points.

. IN SINGAPORE the STRAITS TIMES index rose by 0.16%, to 3,331 points.

. In SYDNEY the S&P/ASX 200 index fell by 0.71% to 7,783 points.

Source: Terra

Rose

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