China stocks rise on AI rally; HK tech shares set for record winning streak

Chinese stocks rose on Thursday, led by AI and chip shares, while Hong Kong-listed tech stocks headed towards a record week as investors remained focused on sector trends during a quiet policy period ahead of major holidays. ** At market close, China's blue-chip CSI300 index was up 0.6%, on track for a 2% weekly gain. The Shanghai Composite index was flat at 3,853.30 points, set to register a 0.9% gain for the week.

** In Hong Kong, the benchmark Hang Seng Index was largely flat at 26,484.68. The Hang Seng Tech Index rallied 0.9%, set for its eighth straight month of gains. ** "We're sticking with our view of a steady, gradual bull market and maintaining our focus on tech themes," analysts at Topsperity Securities said, adding that industry trends will continue to be the driver for short-term market direction.

** Trading could be light, given the current policy lull following the Federal Reserve's meeting, China-U.S. leaders' call, and ahead of the National Day and mid-autumn holidays next week, they added. ** Investors will also watch for Thursday's staff-level technical talks between U.S. and Chinese officials at the U.S. Treasury, focused on trade and economic issues, Reuters reported.

** Tech stocks led gains in onshore markets on Thursday, with AI stocks up 2.7% and semiconductor shares 1.5% higher. ** The rare earths sector added 0.6%, following a news report that Group of Seven (G7) members and the European Union are considering price floors to promote rare earth production.

** Financial-related shares dragged on the market, with the banking sector weakening 0.7% and the insurance sector down 0.4%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)