CHN.cash loses 1.5% amid the biggest intraday loss since October💥Profit taking on Chinese AI stocks

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Futures on Chinese Hang Seng Index (CHN.cash) are down as investors decided to take profit from technology, and AI stocks which was probably the most 'crowded trade' on Emergin Markets during last weeks. Xiami and Lenovo are down almost 5% and SMIC loses 3%. The sell-off came in after Chinese technology benchmark in Hong Kong were almost 4.2% higher today. According to Bloomberg, there is still a low chance for stimulus surprising at the Two Sessions, slated for March. Investors may expect that current rally may be the sell the news opportunity. Earlier, the Hang Seng tech index hit the 3-year-high, driven by DeepSeek and Chinese AI evolvement. It’s swung from an intraday gain of as much as 4.2% to a drop of as much as 1.5% - the biggest intraday selloff since October

Source: xStation5

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