Global Market: Chinese stocks slip as AI, chip shares extend correction; defensive sectors offer support

Chinese stocks slipped as technology and semiconductor shares extended their correction, with the STAR 50 Index falling 4.1% and the CSI Semiconductor Index tumbling 5.1%. Defensive sectors like banking and gold-linked shares posted gains, providing support to the broader market. Meanwhile, Hong Kong markets outperformed with the Hang Seng Index rising 1.3%, and broader Asian equities moved higher after major US technology companies reaffirmed significant capital expenditure plans, though escalating Middle East conflict pushed oil prices to six-week highs.