Chip Stocks Propel Chinese Markets Amid Economic Uncertainty

Chinese and Hong Kong stock markets rose on Tuesday, driven by gains in chip stocks and positive earnings, despite investors waiting for fresh cues. The Shanghai Composite and CSI 300 increased by 0.7%, while Hong Kong's Hang Seng Index rose by 0.4%. Semiconductors gained significantly, with key players seeing notable advances.

Chinese and Hong Kong stock markets climbed on Tuesday, buoyed by strong performances in chip stocks and encouraging earnings, even as investors held out for new market signals.

The Shanghai Composite and the blue-chip CSI 300 indexes each rose by 0.7%, rebounding from two-week lows earlier in the day. Hong Kong's Hang Seng Index also saw an increase, rising by 0.4%.

This upward momentum was largely driven by chip stocks, which lifted mainland markets significantly. Semiconductor Manufacturing International Corporation saw a rise of 2.8%, while Hua Hong Semiconductor rallied by 3.5%. Meanwhile, in Hong Kong, Trip.com's shares surged by 5.8% following a strong earnings report.

(With inputs from agencies.)