PCB-related Hong Kong stocks strengthened in afternoon trade: 01888.HK rose over 14%; 00148.HK and 01989.HK rose more than 9%; 01377.HK rose over 7%.

港股PCB概念股反弹，建滔积层板(01888.HK)涨5%，建滔集团(00148.HK)涨4.38%，广合科技(01989.HK)涨3%，胜宏科技(02476.HK)涨2.7%。

Apollo Global Management chief economist Torsten Slok said the dollar’s recent strength is vulnerable if an AI-led equity sell-off intensifies. He noted international investors’ heavy, largely unhedged allocation to AI themes has driven record rolling net foreign inflows into US equities over the past 12 months, boosting dollar demand as buyers convert local currency into dollars. With US rates high, hedging costs remain elevated, making dollar moves more sensitive to equity flows. Slok warned that a loss of confidence in AI triggering equity outflows would pose material downside risk to the dollar.