China's tech shares rally on policy support; Hong Kong slips on US rate outlook

Mainland China's tech shares surged on Thursday after the securities regulator pledged to support innovation, while Hong Kong stocks declined due to US rate hike concerns.

Tech shares rallied in mainland China on Thursday as ​investors cheered the securities regulator's pledge to support ​innovation, while Hong Kong stocks slid on ‌rising ​prospects of U.S. rate hikes later this year. ** China took fresh steps a day earlier to fund tech innovation amid an intensifying rivalry with ‌the U.S., saying it would support listings of startups in "future industries" such as quantum technology, nuclear fusion and brain-computer interfaces.