HK slips as Korean results raise stakes for AI giants

Asian shares gave up earlier gains on Thursday as AI-related earnings announcements prompted wildly mixed responses, raising the stakes for Amazon and Intel results due later in the day. In Hong Kong, the benchmark Hang Seng Index opened down six points, or 0.03 percent, at 23,088. The tech index slipped 19 points, or 0.5 percent, to 3,834 while the China Enterprises Index inched down six points, or 0.08 percent, to 7,797. Up north, the Shanghai Composite Index opened down four points, or 0.13 percent, at 3,676. The Shenzhen Component Index fell 94 points, or 0.82 percent, to 11,379 while the ChiNext Index lost 38 points, or 1.46 percent, to open at 2,596. In Tokyo, the Nikkei opened 172 points, or 0.27 percent, at 64,126 but regained ground to be 11 points off the pace at one stage before noon. In Seoul, the Kospi inched up four points, or 0.08 percent, to open at 6,017, gained ground before slipping into loss territory to the tune of 182 points at one stage before lunch. The opening losses for Asian markets came as a hefty cash burn at Alphabet sent its shares 10 percent lower in after-hours trading, wiping nearly US$400 billion off its market value. That drove Nasdaq futures...