China, HK stocks up, led by consumer and healthcare shares
- Hong Kong benchmark Hang Seng was up 2.1%
SHANGHAI: China and Hong Kong stocks rose on Monday, led by consumer and healthcare shares, as investors rotated out of some artificial intelligence supply-chain names and into more traditional sectors.
China’s blue-chip CSI300 Index edged up 0.1% by the lunch break, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was up 2.1%.
The rotation aligns with global markets where investors expanded their positions beyond AI as they took profits from a sharp rally in memory chips this year. Onshore consumer staple shares rallied 3.4%, while the CSI300 Healthcare Index surged 6%.
The CSI 5G Communication Index which contains manufacturers on the chip supply chain and was up 70% this year, fell 4.1%, while the AI Index eased 0.6%. The tech-focused STAR 50 Index, however, was still up 1.6%, led by semiconductor equipment shares, ahead of the closely watched market debut of China’s leading memory-chip maker CXMT.
APAC equity futures were steady to slightly higher after reports that the United States and Iran had stepped back from further escalation, though continued unwinding of technology stocks is expected to weigh on major Asian markets.
Tech giants listed in Hong Kong, which had underperformed onshore tech names due to lack of hardware stocks, rebounded from their lowest points since Jan. 2025, up 3.7%.
Shares related to China’s low-altitude airspace broadly fell on concerns that Beijing’s small aircraft crash may trigger tighter control of the space.
CITIC Offshore Helicopter shares fell nearly 4%.
Shares of Shanghai MicroPort MedBot jumped nearly 9% on breakthrough in core product installation. ‑Reuters