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The Hang Seng Index has rebounded, moving from the June low of 22,516 to a high of 26,200. It has jumped to its highest level since May 15, and is about to form a golden cross pattern as technology companies recover.

The Hang Seng Index has outperformed its major Asian peers this year, even as the Kospi and Nikkei 225 have come under pressure. The index has rebounded nearly 14% from its lowest level this year, while the Nikkei 225 and Kospi have fallen about 15% and 40%, respectively, from their year-highs.

Our global markets watchlist tracks nine prominent indexes from economies around the world.

Our global markets watchlist tracks nine prominent indexes from economies around the world.

Michael Burry made a bullish call on Hong Kong over Korea. I disagree. Korea's selloff is a dip to buy, not a structural rotation out. The market's trigger: Moonshot's Kimi-K3 launched cheap and strong at coding, reviving DeepSeek-style fears that Chinese AI threatens Samsung and SK Hynix memory demand. I read it like DeepSeek in January 2025, a scare that faded. Winning is revenue per token, not token volume, and…