$FI2 CSOP HSI(07500)$ Based on the provided information, the Hang Seng Index (HSI) declined today, June 16, 2026, while Wall Street showed signs of recovery. This divergence is driven by specific regional pressures on Hong Kong-listed stocks, particularly in the tech and AI sectors
SpaceX's stunning listing officially pushed Wall Street to change the term for technology stock leaders from 'Mag 7' to 'MANGOS' (Meta, Anthropic, Nvidia, Google, OpenAI, SpaceX). This is not just a rhetorical game for media, but the whole technology industry chain has moved from “mobile Internet platform” to “AI full stack compound interest and space/electric infrastructure”.
The artificial intelligence industry is in the ascendant, but its expansion speed may not be faster than the reversal of American public opinion. Former Google CEO Schmidt talked about AI bringing about "bigger, faster, more profound" technological changes, not applause but boos. This spectacle, though trivial, is symbolic: Silicon Valley's apocalyptic future has become increasingly recognizable to ordinary voters as a mammoth machine pushing the cost of living, taking jobs, invading schools and families.
Famous short seller James Chanos, unceremoniously labelled SPCX as an IPO of dreams and hopes, and frankly stated that investors' blind enthusiasm was entirely based on a virtual bundle of Musk's personal mythology with the concept of AI. Morningstar's previous evaluation model gave an extremely conservative $780 billion valuation (at just $63 per share), with its total revenue of 18.7 billion dollars in 2025 and a net loss of $4.28 billion in the first quarter (of which AI-related losses reached $2.5 billion per quarter), and a striking gap with its $177 trillion listing pricing
The real question is not "Is this a bubble" , which is not as useful as it seems in real life. The better question is: What is the market discounting? Which companies can retain their profit pool even after the boom cools down? Which companies' profits are only capital expenditure on others? Which stocks need a perfect future to not fall? Which companies are already too expensive even if the future is good? Where are the most likely places to be punctured by bad news for a quarter?