Chinese and Hong Kong equities recovered on Wednesday as renewed enthusiasm for artificial intelligence supported technology shares across Asian markets, with investors also weighing the outlook for domestic consumption and awaiting the latest US Federal Reserve policy decision.
The rebound followed two consecutive sessions of losses and tracked gains across the wider region after South Korean semiconductor manufacturer SK Hynix reported a more than sevenfold increase in quarterly operating profit. Its results strengthened expectations for continued demand for AI-related chips and helped restore confidence in technology stocks.
China’s CSI300 and Shanghai Composite indices each gained 0.7% by the midday break, while Hong Kong’s Hang Seng Index rose 0.4%. The Hang Seng Tech Index advanced 1.8%, reflecting renewed buying interest in companies linked to artificial intelligence.
Technology-related sectors led the recovery in mainland China. Robotics stocks rose 5.2%, semiconductor equipment companies gained 4.5% and 5G communications stocks advanced 3.8%. Unitree Technology, a robotics manufacturer, gained 12% ahead of the publication of its first quarterly results since listing in Shanghai.
Hong Kong-listed AI-related companies also attracted renewed interest, with an index tracking the sector rising by more than 5%. The moves suggest that improving sentiment towards the global technology sector is providing short-term support for Chinese equities after recent selling pressure.
The Chinese yuan remained close to a four-year high against the US dollar on Wednesday as traders awaited the Federal Reserve’s decision for guidance on the future direction of US interest rates.
The onshore yuan traded at around 6.6675 per dollar, little changed on the day and close to the previous session’s high of 6.6660. The currency has gained 0.6% against the dollar during October and 4.9% so far in 2026.
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