Market Updates
China's Semiconductor Stocks Moved Higher Despite Broader Market Weakness
Li Chen
03 Jun, 2026
Hong Kong
China's benchmark indexes moved in opposite directions as investors reviewed mixed business activity reports.
The Hang Seng Index decreased 1.7%, and the mainland-focused CSI 300 Index advanced 1.6% after growth in service sector activity rose to a three-month high in May.
Ratings Dog China General Services PMI advanced to 54.4 in May from 52.6 in the previous month, as compiled by S&P Global.
The service sector rose at the strongest pace since February as new orders rose at the fastest pace in three months. However, growth in export orders rose at a slower pace than domestic demand.
Input price inflation accelerated to the highest level since October 2024, driven in large parts by higher fuel prices and rising wage costs. However, output price inflation broadly remained unchanged.
China Indexes and Stocks
The Hang Seng Index decreased 1.7% to 25,599.98, and the mainland-focused CSI 300 Index advanced 1.6% to 4,990.50.
Semiconductor- and AI-linked companies rebounded from morning doldrums amid rising skepticism about valuation and sustainability of the elevated levels of artificial intelligence infrastructure build-out.
SMIC soared 4%, Hua Hong Semiconductor advanced 6%, Eoptolink Technology jumped 8%, Zhongji Innolight surged 10.3%, and Foxconn Industrial Internet increased 5.6%.
Annual Returns
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Earnings
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