China stocks rebound on tech rally, tracking Asian markets

Chinese and Hong Kong equities advanced on Wednesday, ending two sessions of declines, as technology shares followed gains across Asian markets. By midday, the CSI300 and Shanghai Composite were each 0.7% higher, while the Hang Seng gained 0.4% and its technology index rose 1.8%, Business Recorder reported.

The recovery followed stronger-than-expected results from South Korean chipmaker SK Hynix, whose quarterly operating profit increased more than sevenfold and lifted interest in AI-related shares. Mainland robot, chipmaking and 5G shares rose 5.2%, 4.5% and 3.8%, respectively, while Hong Kong’s AI-focused index gained over 5%; liquor stocks weakened, with Wuliangye down 5.7% after its third-quarter profit fell 48%. The report also cited buying by state-backed funds and calls for fresh stimulus amid soft domestic demand.