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The blue-chip CSI300 Index and the Shanghai Composite Index were both up 0.4% by the midday break. In Hong Kong, the Hang Seng Index advanced 2.1%. Despite Friday’s gains, the CSI300 was set to finish the week nearly 1% lower. The Hang Seng, meanwhile, was on course for a weekly gain of around 0.6%. Read more: Global Market: South Korean shares rise on chip gains, KOSPI set for third weekly loss Investors shift towards traditional sectors Consumer staples led gains in mainland markets, climbing 2.6%, as investors rotated away from AI supply-chain stocks and towards more traditional sectors. Shares of Chinese liquor giant Kweichow Moutai rose 2.4%. The technology-focused STAR50 Index fell 0.7% and was down nearly 4% for the week, while the CSI Artificial Intelligence Index edged 0.2% lower. According to Reuters, sentiment in China's onshore A-share market remained subdued during the week amid concerns about higher U.S. yields and weak domestic economic data. Morgan Stanley analysts also lowered their targets for Chinese equity indexes, citing a weaker growth outlook, tighter liquidity conditions, less favourable fund-flow dynamics and rising regulatory uncertainty. Hong Kong tech stocks rebound Hong Kong equities gained as investors responded positively to comments from Christopher Waller, who indicated that he was inclined to keep interest rates unchanged at the U.S. central bank's September meeting if upcoming inflation data continued to show easing price pressures. The comments helped lift technology stocks in Hong Kong, with major tech companies rebounding from a two-month low. The sector rose 2.5%, while Alibaba gained 3.4%. Xiaomi shares climbed 3.1% after the Chinese smartphone and electric vehicle maker announced a deal involving German auto dealers. The broader market remains sensitive to developments in U.S. monetary policy, with movements in Treasury yields influencing investor appetite for riskier assets globally. For Chinese equities, investors are also closely watching domestic economic data and policy signals for evidence of a stronger recovery. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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