HONG KONG: China stocks were flat on Tuesday, with the Shanghai benchmark ending a nine-day winning streak as investors took profits following its best run in more than a year.
At market close, the Shanghai Composite index was flat at 3,965.12, breaking its best winning run since September 2024.
Still, the index has now gained more than 18 percent this year, on track for the best annual performance since 2019.
The blue-chip CSI300 index edged up 0.3 percent after fluctuating between gains and losses throughout the day.
The artificial intelligence sector index rose 1.3 percent and the semiconductor index added 0.9 percent.
The defence sector climbed as much as 1.4 percent to fresh high in nearly three years as China launched a live-firing drill around Taiwan simulating blockade.
The gold industry index closed largely flat, as precious metals steadied after a sharp selloff in the previous session.
Among major laggards, the real estate index was down 2.3 percent, the healthcare sub-index lost 0.7 percent and the insurer sector weakened around 1 percent.
“The market is consolidating with increasing volume as a bullish trend emerges,” analysts at Pacific Securities said in a note.
“Sectors are showing rotational strength in an overall upward trend, and we expect this rally to start with broad gains and accelerate given extremely low option volatility levels.”
In Hong Kong, the Hang Seng Index was up 0.9 percent at 25,854.60, and the tech index rose 1.7 percent to a more that two-week high. The Hang Seng China Enterprises Index rose 1 percent.
Six Chinese companies made their Hong Kong trading debuts with most trading above their IPO prices, rounding off a resurgent year for listings as the city dominated Asian equity capital markets.
Around the region, MSCI’s Asia ex-Japan stock index was flat, while Japan’s Nikkei index was down 0.4 percent.
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