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SHANGHAI: China stocks rose on Wednesday, led by artificial-intelligence firms, as sentiment steadied after regulators cooled exuberance this month. Hong Kong shares declined.
- China’s blue-chip CSI300 Index climbed 0.3% by the lunch break, while the Shanghai Composite Index gained 0.2%.
- Hong Kong benchmark Hang Seng fell 0.2%.
- Onshore AI stocks rose 2.2% after three sessions of declines, while semiconductors climbed 2.9%.
- Non-ferrous metals advanced 1.7%.
- A UBS survey shows strong investor interest across metals-linked sectors in the first quarter, along with preference for basic materials, aerospace, semiconductors and related equipment.
- “At the same time, clients expressed concern over stretched valuations and the risk-reward profile of China A-share tech stocks after their sharp year-to-date rally,” UBS analysts said.
- Over the past week, Shanghai and Shenzhen stock exchanges each took regulatory measures against hundreds of abnormal trading practices such as price pumping and false orders.
- The bourses also launched probes into several listed companies over allegedly misleading statements.
- The measures reflect regulators’ intention to slow the pace of market gains.
- Analysts at AllianceBernstein said China’s onshore shares securing a third straight annual gain in 2026 will hinge on earnings beginning to deliver on growth expectations.
- China Vanke’s onshore shares rose 2.3% after its bondholders agreed to defer receiving payment of 60% of the principal for a 1.1 billion yuan ($158 million) puttable bond by one year, a filing showed.