Shares in Asia are mostly higher, with Chinese technology stocks surging after Chinese President Xi Jinping met with entrepreneurs this week in what is seen as a show of support to the technology industry.

China’s technology stocks slumped Wednesday after a brief bull run earlier in the week. Alibaba’s Hong Kong-traded stock fell 1.03%, while search engine giant Baidu fell 2.11% after it reported a 2% drop in revenue for its fourth quarter compared to a year earlier as artificial intelligence rivalry heats up in China.

U.S. stock indexes are edging lower on a relatively quiet Wall Street. The S&P 500 slipped by 0.2%, a day after setting an all-time high.