China, HK stocks track global tech rebound; brokers rally

China and ​Hong Kong stocks advanced on Wednesday, ​tracking a broader rebound in ‌global markets ​as sentiment improved across technology and artificial intelligence supply-chain shares. ** At the close, China's blue-chip CSI300 Index climbed 0.9%, ‌rebounding from a near one-month low, while the Shanghai Composite Index gained 0.6%. ** Hong Kong benchmark Hang Seng was up 0.6%. ** Overnight gains on Wall Street provided ‌some tailwinds for Chinese AI supply chain plays. The tech-heavy STAR50 Index rose ‌1.7% and the CSI Semiconductor Index gained 1.8%, after global AI bellwether Nvidia snapped a seven-day losing streak to finish over 2% higher. ** HSBC analysts said China's AI segment valuations remain expensive, and ⁠further ​upside is likely ⁠only from other AI applications and monetisation scenarios. ** Chinese brokers listed both onshore and in Hong Kong ⁠outperformed; these securities firms posted strong first-half results and announced dividend payouts amid robust trading activity. ** ​CICC's Hong Kong shares jumped more than 8% ** Hong Kong-listed tech giants ⁠bounced 0.8% from a 1-1/2-month low. E-commerce giant Alibaba rose 2%after a regulatory filing showed its chairman ⁠had ​purchased company shares, while media reports said founder Jack Ma had also bought stock. ** Bucking the broader market strength, the CSI Energy Index fell 0.7% as ⁠Brent crude futures fell on the prospect of more supply coming through the Strait ⁠of Hormuz. ** ⁠Hong Kong-listed real estate firms went up more than 2%, as property listings website Beike jumped 5% on better-than-expected second-quarter earnings.