Published on 07/09/2026 at 12:39 am EDT
(Reuters) - China stocks held steady on Thursday, as a rally in chipmakers and AI-linked shares offset weakness in metals and consumer stocks following mixed inflation data, while Hong Kong equities declined.
** China's blue-chip CSI300 Index held its ground at 4,758 points by the lunch break, while the Shanghai Composite Index lost 0.5%. Hong Kong benchmark Hang Seng was down 0.8%.
** Consumer staples shares retreated after data showed China's consumer price index eased in June, while producer price inflation surged to its strongest level since July 2022.
** Semiconductor shares led gains on the mainland, rising 3.1%, after memory-chip maker Changxin Memory Technologies ( CXMT ) said it would start book-building on July 15 for its planned Shanghai IPO, which aims to raise 29.5 billion yuan ($4.34 billion).
** GigaDevice, a CXMT shareholder, climbed 6.1%, snapping a seven-session losing streak, while GPU designer Moore Threads surged 15%.
** The tech-focused 50 index rose 3.2%.
** Sentiment toward China Internet has improved this month, with the Hang Seng Tech Index up 12% from its 1-1/2-year low hit in June.
** Alibaba rose as much as 5%, before paring gains, as its AI narrative gathered momentum ahead of its quarterly earnings release. UBS Research forecasts the e-commerce giant's cloud revenue growth to accelerate to 45% year-on-year for the June quarter, with its model-as-a-service business on track and quick-commerce losses narrowing sharply.
** Onshore non-ferrous metal shares fell 4.3%, while the Coal Index dropped 1.5%. The CSI New Energy Vehicles Index was down 3%.
** Oil-related stocks showed little reaction to renewed Gulf tensions. CNOOC shares edged 0.1% lower.
** China's central bank said on Wednesday that it would maintain an appropriately loose monetary policy and ramp up financial support to revive domestic consumption.
(Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips)
Sumber : Reuters
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