Market Updates
China and Asian Markets Extended Weekly Gains Powered by AI Trade
Li Chen
05 Aug, 2026
Hong Kong
China's stocks advanced on Wednesday, and investors reacted to international events amid uncertain geopolitical tensions.
The Hang Seng Index increased 0.3%, and the mainland-focused CSI 300 Index advanced 1% as investors surmised cooling tensions in the Middle East may improve energy shipments through the Strait of Hormuz.
The Brent crude oil price decreased 1.2% to $78.44 a barrel as the U.S. and Iran signaled a willingness to accelerate diplomatic efforts and avoid the immediate repeat of July's string of attacks.
In overnight trading in New York, the S&P 500 Index jumped 1.8% and the tech-focused Nasdaq Composite advanced 2.6% amid improving global risk sentiment and strong earnings.
Across Asia, benchmark indexes in Tokyo jumped 3.3% and in Seoul advanced 4.4%, driven by a surge in computer memory makers and semiconductor equipment makers.
In Mumbai, benchmark indexes gained 0.4% and the rupee held stable, following the two-day decline in energy prices, and in Sydney, it edged up 0.3%.
China Indexes and Stocks
The Hang Seng Index increased 0.3% to 25,916.61, and the mainland-focused CSI 300 Index advanced 1% to 4,646.25.
AI- and semiconductor-linked stocks retained an upward bias in Hong Kong and Shanghai amid expectations of sustained investment in artificial intelligence infrastructure.
SMIC advanced 4.3% to HK $68.45, Zhongji Innolight declined 7.6% to ¥943.86, and Eoptolink Technology decreased 5.7% to ¥422.43.
MiniMax Group soared 11.8% to HK $257.40, Z.AI Co. Ltd. increased 7.5% to HK $1,086.00, and CXMT Corp. fell 0.6% to ¥54.70.
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