SHANGHAI: China and Hong Kong stocks closed higher on Tuesday, led by AI supply chain shares, as an overnight rally on Wall Street and sliding oil prices lifted risk sentiment across Asia.
China’s blue-chip CSI300 Index and the Shanghai Composite Index both closed up 0.1 percent. Hong Kong’s benchmark Hang Seng was up 0.4 percent.
Chip supply chain shares across Asia climbed, tracking an overnight rally on Wall Street that saw the Nasdaq jump 2.7 percent.
The 5G Communication Index rose 2.6 percent, leading gains onshore, while the tech-focused STAR50 Index was up nearly 1 percent.
Hong Kong-listed shares of optical communication giant Zhongji Innolight jumped 9 percent.
Tech majors listed in Hong Kong were up 1.1 percent.
Wuxi AppTec rose as much as 5 percent before paring gains, after the Pentagon removed the Chinese biotechnology company from its list of Chinese military companies.
Non-ferrous metal shares edged up 0.1 percent as gold prices rebounded this month on falling oil prices. The CSI Energy Index fell 2.6 percent, with PetroChina down 6.3 percent.
China’s trade surplus surged past USD1 trillion in the first 10 months as a global race to build AI infrastructure buoyed sales of high-tech products and helped offset weak domestic demand, a dynamic likely to sharpen tensions with major trading partners.
Chinese chip firms Suzhou Denglin Technology and Jiangsu Xinde Semiconductor Technology made mixed Hong Kong trading debuts on Tuesday after raising a combined HKD2.36 billion (USD301 million) in initial public offerings.