China Tech Stocks Left Behind in Traders’ Hunt for AI Winners
- Nasdaq 100 up about 78% on AI boom, Hang Seng Tech up 16%
- AI ‘a bit more challenging in China’: Janus Henderson’s Clode
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China’s major technology stocks have been left behind in this year’s global frenzy over artificial intelligence, and a lack of demand for actual AI usage coupled with geopolitical pressures make it unlikely they can cash in anytime soon.
The Nasdaq 100 has soared about 78% since ChatGPT was introduced two years ago, compared with Hang Seng Tech Index’s 16% gain. The underperformance reflects investor pessimism toward China’s economic revival efforts, on top of concerns over monetization and trade bans.