The Wall Street Journal reports Goldman Sachs president said the SpaceX IPO demonstrates investor enthusiasm for artificial intelligence.

Hong Kong shares rose through the morning session; HSI +2.02% and Hang Seng Tech Index +1.72% at midday. Gold miners led gains: Lingbao Gold (03330.HK) +9%+, Chifeng Gold (06693.HK) +8%+. Mainland broker stocks advanced: Hongye Futures (03678.HK) +11%+, CITIC Securities (06030.HK) and China International Capital Co (03908.HK) both +6%+. Innovative drug/biotech names rallied: 06990.HK +7%+, 09926.HK +5%+, Hengrui Medicine (01276.HK) +4%+. Wind power, commercial space, power equipment, robotics, lithium battery and China domestic bank sectors outperformed. Large-model AI names were mixed: Zhipu +3%+, MINIMAX-W (00100.HK) -5%+. PCB complex rolled over after an early pop: Kingboard Laminates (01888.HK) -5%+, Kingboard (00148.HK) -4%+.

Nasdaq 100 turned lower, erasing earlier gains of up to 0.9%.