Kospi enters a selling trend as Unitree surges in Shanghai
Sales in AI shares pulled the Kospi down 5.8 per cent. Unitree closed its first day in Shanghai with a strong increase, while Hong Kong exchange's northbound trading fees doubled.
Economics & Markets··Evening
How much did the Kospi fall?
Investors' sales in AI-related shares affected Asian trading. The Kospi index closed down 5.8 per cent at 6,471.17. The Nikkei 225 declined 3.2 per cent to 65,326.42, and the Shanghai Composite dropped 2.4 per cent to 3,894.42. Conversely, the Hang Seng index showed a 0.1 per cent increase. On the same day, Brent crude rose to 91.78 dollars a barrel. The sales generally stemmed from doubts over technology and AI-focused valuations. In Japan, the ten-year government bond remained at 2.9 per cent.[1]
How was Unitree's first-day performance?
Humanoid robot maker Unitree completed its first trading day in Shanghai 460 per cent above its offer price. The company priced its shares at 150.80 yuan, raising a total of 6.1 billion yuan in capital; this amount corresponds to 904 million dollars. During the day, the increase in the shares reached up to 629 per cent. Founded in 2016, the company holds the title of the first humanoid robot maker to list on the mainland. In 2025, the company generated 1.7 billion yuan, or about 250 million dollars, in revenue, with more than 40 per cent coming from international sales.[2]
How did the Hong Kong exchange's revenues increase?
Hong Kong exchange operator HKEX announced that its revenue after transaction expenses increased by 32 per cent in the first half. EBITDA recorded a 34 per cent rise. Stock exchange equity product trading fees grew by 18 per cent to 3,024 million Hong Kong dollars; the previous year, this figure was 2,556 million Hong Kong dollars. Northbound Stock Connect trading fees doubled, rising from 286 million Hong Kong dollars to 602 million Hong Kong dollars. The company attributed this rise to a 102 per cent increase in northbound average daily turnover and the appreciation of the yuan.[3]
