China blue-chips fall as financials drag; Hong Kong down

China's blue-chip stock index fell on Thursday, as investors took profits in financial shares, while Hong Kong equities dropped following Wall ‌Street's overnight weakness.

China's blue-chip stock index fell on Thursday, as investors took profits in financial shares, while Hong Kong equities dropped following Wall ‌Street's overnight weakness. ** The blue-chip CSI300 Index lost 0.5% by the lunch break, while the Shanghai Composite Index was flat. In Hong Kong, the Hang Seng ⁠Index declined 1.2%.

** China's financial stocks dropped 1.5%, on track for their worst day in nearly seven weeks, as investors pocketed gains following a recent rebound. ** Chinese brokerages, banks and insurers were big drags for ​the market.

** In Hong Kong, sentiment was soured by overnight selloffs in U.S.-listed, China-focused funds . ** ‍UBS said it remained upbeat on China stocks after a stellar performance in 2025.

** UBS forecast a 14% profit growth this year for companies underlying MSCI China, according to Janice Hu, China Country Head, UBS. ** "The Hong Kong market remains pretty ⁠attractive in ‌2026," Hu said during a ⁠presser on Wednesday, citing a rush by Chinese companies to expand overseas, global investors' need for asset allocation and Hong ‍Kong's unique status as a connector.

** China's artificial intelligence stocks rose on Thursday, after the country vowed to achieve ​secure and reliable supply of key core AI technologies by 2027. ** Shares of Chinese makers ⁠of semiconductor materials, including Tangshan Sunfar Silicon Industries Co and Hubei Heyuan Gas surged, after China's commerce ministry said it was launching ⁠an anti-dumping probe into imports of chemicals used in chipmaking.

** Chinese chipmakers also climbed on news that Beijing had asked some Chinese tech companies to halt orders for Nvidia's NVDA.O H200 chips, and ⁠was expected to mandate domestic AI chip purchases. ** In Hong Kong, three Chinese technology firms - AI startup Knowledge ⁠Atlas Technology, semiconductor ‌firm Shanghai Iluvatar CoreX and surgical robotics company Shenzhen Edge Medical - debuted higher after raising a combined $1.19 billion, setting the tone for what could be yet another busy ⁠year for new listings in Hong Kong.

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