Market Updates
China Stocks Lacked Direction, PBoC Provided Month-End Liquidity Support
Li Chen
29 Jul, 2026
Hong Kong
Stocks in China struggled to advance amid renewed tensions in the Middle East and lingering AI trade worries.
The Hang Seng Index increased 1.5%, and the mainland-focused CSI 300 Index eased 0.2% as investors weighed rising crude oil prices against stretched valuations of tech stocks.
Tensions in the Middle East flared after Iran resumed its bombing of U.S. positions there, and Israel continued its strikes deep into Lebanon.
The Brent crude oil price rebounded 3.5% to $87.32 a barrel after the U.S. Central Command claimed that it struck down all projectiles from Iran.
AI- and semiconductor-related stocks rebounded in early trading; however, market sentiment was cautious amid a worry of circular AI finance arrangements.
Advanced computer chipmakers are reporting a sharp rise in earnings and profits, but those gains come with a financing arrangement with customers to purchase expensive chips.
The People's Bank of China injected 806.5 billion yuan into the banking system through reverse repo operations to maintain sufficient liquidity as the month's end approached.
China Indexes and Stocks
The Hang Seng Index increased 1.5% to 25,688.17, and the mainland-focused CSI 300 Index eased 0.2% to 4,558.36.
Banks led decliners in Shanghai trading, driven by growing worries of further economic slowdown.
ICBC declined 1.4%, Agricultural Bank of China fell 1.3%, and Bank of China eased 1.2%.
HSBC Holdings decreased 0.7% to HK $160.90, and China Construction Bank closed unchanged at HK $9.13.
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