China and Hong Kong stocks rally after US tech gains
Business
Chinese and Hong Kong stock markets got a boost on Wednesday, thanks to renewed excitement around tech and AI supply chain companies.
US tech stocks set the mood overnight (NVIDIA ended a seven-session losing streak with a more than 2% rise), which helped China's CSI300 index climb 1.1% by midday after a recent slump.
Hang Seng and Shanghai rise 0.7%
Hong Kong's Hang Seng and Shanghai Composite both rose 0.7%, led by big tech names rebounding.
Alibaba popped 3% after its chairman bought more shares, while China's STAR50 tech index jumped 2.2%.
Materials stocks also rallied on strong gold prices, but energy shares slipped as oil prices cooled off.