China Stock Gauge Sinks as Traders Favor AI Winners Elsewhere

China Stock Gauge Sinks as Traders Favor AI Winners Elsewhere Chinese stocks listed in Hong Kong are facing bleak milestones as a global rush into artificial intelligence supply chain players sidelines the Internet and consumer companies that dominate the offshore benchmark. Investors are increasingly favoring chipmakers listed on the mainland and in other North Asian markets, where companies are seen as the biggest beneficiaries of surging demand for AI. Meanwhile, weak earnings growth and easing liquidity are adding pressure to offshore gauges, whose biggest constituents remain vulnerable to weak consumer demand.