China, Hong Kong stocks tumble as global tech sell-off deepens

China and ​Hong Kong stocks tumbled ​in early trade on ‌Friday, ​tracking a global tech rout as fears of tighter AI regulation and ‌a slowdown in the sector rattled investors. China's blue-chip CSI300 Index and the Shanghai Composite Index were both down 1.5%.

Tech led the ‌drop, with startup board Star 50 Index and AI Index ‌both down more than 5% at the open before narrowing some of the losses. In Hong Kong, the benchmark Hang Seng was ⁠down 1.6% while ​the Hang ⁠Seng Artificial Intelligence Index was down some 7%.

Overnight in the US ⁠market, the tech-led Nasdaq notched its deepest one-day drop since "Liberation Day" ​in April 2025, when US President Donald Trump announced sweeping ⁠tariffs. The drop wiped out trillions in market value on fears ⁠of ​more AI scrutiny after Democrats won big in US midterm elections. The fear trade carried on in early ⁠Asia hours, with South Korea's KOSPI plunging more than 8% and ⁠Japan's Nikkei falling ⁠5%. The South Korean move triggered exchange circuit breakers for a 20-minute trading halt.