SHANGHAI: China and Hong Kong stocks were little changed on Friday but headed for weekly gains, as investors kept favouring artificial intelligence-related shares while turning cautious with key benchmarks near multi-year highs.
- China’s blue-chip CSI300 Index and the Shanghai Composite Index both edged up 0.2% by the lunch break. Hong Kong benchmark Hang Seng was down 0.2%.
- Onshore AI shares have rebounded 6.5% this week, after four consecutive weeks of declines. Tech majors traded in Hong Kong were up nearly 4% this week.
- The CSI300 Index was up 1.6% so far this week, while the Hang Seng Index rose 2.6%.
- China’s stock market in 2026 is expected to focus on technology and dividend plays, with rising indexes likely to bring greater volatility, making timing crucial and trading indicators worth watching, said analysts at Huaxi Securities.
- Shares of sportswear firms Anta Sports Products and Li Ning both edged down after Reuters reported the two companies are among those exploring a potential takeover of struggling German sportswear brand Puma.
- Chinese developer Vanke’s Hong Kong-listed shares fell nearly 2% to a record low, along with declines in its bond prices.
- Charles Wang, chairman of Shenzhen Dragon Pacific Capital Management Co, said he held a sizable position in property stocks last year, but has since gradually cut exposure.
- If the government says this should be handled under “market-based principles”, the market must bear some losses and bondholders must take some losses, Wang said.
- This week, a media report sparked speculation that the state-backed developer might face a debt restructuring. ‑Reuters
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