Semiconductors lift China stocks; Hong Kong falls as Alibaba weighs

Chinese mainland equities finished the morning session slightly higher on Thursday, with the CSI300 gaining 0.1% and the Shanghai Composite advancing 0.2%, Business Recorder reported. Semiconductor and artificial-intelligence shares led mainland gains, following overnight strength on Wall Street. By contrast, Hong Kong’s Hang Seng was down 0.9%, while its technology index fell 1.4%.

Alibaba dropped 5% after saying it would continue plans to separate its T-Head chip operation, while CK Hutchison declined more than 4% following reports that it had put a proposed dual listing of AS Watson on hold. Cautious expectations for Singles’ Day sales, amid tighter consumer spending, also weighed on sentiment. Macquarie economist Larry Hu said the lack of stimulus to bolster domestic demand had held back Chinese shares, and that export performance would influence Beijing’s 2027 stimulus decisions.