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

Mainland China's tech shares surged on Thursday, driven by the securities regulator's pledge to support innovation in emerging industries, while Hong Kong stocks declined.

Tech shares rallied in mainland ​China on Thursday, as investors cheered the ​securities regulator's pledge to support innovation, ‌while Hong ​Kong stocks fell on U.S. rate hike prospects. ** China on Wednesday said it would support listings of startups in "future industries" such as quantum ‌technology, nuclear fusion and brain-computer interfaces. ** Tech-focused STAR 50 leapt 3.8% to notch a record close, while start-up board ChiNext Composite index rose 2.1%. ** "A new wave of technological revolution, led by AI, is being integrated into production ‌and daily life at an unprecedented pace," said Wu Qing, chairman of the China Securities Regulatory Commission, ‌at a forum in Shanghai.