Market Updates
A Rebound In Semiconductor Stocks Lifted China Indexes, Escalating Middle East Tensions Weighed
Li Chen
08 Jul, 2026
Hong Kong
China's indexes halted a three-day slide and overlooked rising tensions in the Middle East.
The Hang Seng Index soared 2.4% to 4,821.65, and the mainland-focused CSI 300 Index edged up 0.6% to 4,821.65.
AI- and semiconductor-linked stocks rebounded as investors searched for bargains following a steep sell-off in the previous session amid worries that massive investment in global AI infrastructure may not be sustainable.
Samsung Electronics extended a two-day loss to 10% despite reporting a 19-fold increase in second quarter profit as investors focused on escalating costs of expansion and a possible decrease in demand growth.
In yesterday's trading, benchmark indexes in South Korea plunged 5% and in Japan fell 2%, and the sell-off rippled to markets in Europe and in New York.
The renewed tensions in the Middle East raised doubts about ongoing discussions aimed at securing a lasting peace agreement between the U.S. and Iran.
Brent crude oil prices rose 2.6% to $76.01 a barrel after the U.S. escalated pressure on Iran by conducting new airstrikes and reimposed a blockade of shipments.
China Indexes and Stocks
The Hang Seng Index increased 2.4% to 24,070.89, and the mainland-focused CSI 300 Index advanced 0.6% to 4,821.65.
Financial services. Industrial and technology stocks led gainers in Shanghai and Hong Kong trading.
Industrial and Commercial Bank of China jumped 3.4% to HK $6.71, China Construction Bank advanced 3.4% to HK $8.13, HSBC Holdings plc gained 0.1% to HK $153.30, and China CITIC Bank increased 2.9% to HK $6.91.
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