In Hong Kong, the benchmark Hang Seng Index was down 1%, while the Hang Seng Artificial Intelligence Index tumbled 4%. (EPA Images pic)HONG KONG: China and Hong Kong stocks fell on Friday as a Nasdaq-led tech rout rippled across Asia and fuelled fears the AI boom is losing steam, although bargain hunting helped pare losses in mainland markets buoyed by Beijing's market-supporting measures.
China's blue-chip CSI300 Index dropped 1.5% by the midday break, but remained on track to snap a 12-week-long losing streak. The Shanghai Composite Index fell 1.1%.
The tech-heavy selloff was initially more severe. Both the tech-focused Star 50 Index and the AI Index slumped as much as 5% before recouping some losses.
