China and Hong Kong Stocks Maintain Gains Amid Global Tech Selloff Concerns

China and Hong Kong markets slipped slightly but were set for weekly gains, disregarding a global tech selloff risk. CSI300 and Hang Seng indices showed modest increases. Foreign investors increased Chinese equity holdings, while Chinese exports declined unexpectedly in October. Negotiations on trade tensions continue.

China and Hong Kong stock markets experienced slight declines on Friday; however, they are poised for modest weekly gains, as investors remain unfazed by the fears of a global tech selloff affecting Chinese markets. The blue-chip CSI300 Index and Shanghai Composite Index each dipped 0.2% by lunchtime, as the Hang Seng Index fell 1.1%.

This week, the CSI300 Index and the Hang Seng have each risen approximately 1%. In contrast, tech-centric stock markets in the U.S. and other Asian regions were anticipating their biggest weekly downturns in seven months, sparking investor concern about the rapid ascent of artificial intelligence stocks.

Foreign institutional investors bolstered their positions in Chinese stocks during the third quarter, with their underweight reducing from -1.6% to -1.3%. China's STAR50 Index, focusing on technology, climbed almost 1% this week. Meanwhile, the U.S. announced plans to negotiate with China to ease shipbuilding and logistics trade tensions, including pausing U.S. port fees for one year.