China Stocks Dip Amid Consumer Weakness, Tech Shares Lift Hong Kong Market

China's stocks fell slightly on Thursday, influenced by weak consumer-related shares, while tech stocks bolstered Hong Kong's market. Key indices saw minor fluctuations, with attention on upcoming economic data to gauge improvements in domestic demand.

China's stock market experienced a slight decline on Thursday, with consumer-related shares dragging the Shanghai Composite index down by 0.05% to 2,720.40 points by midday.

The country's blue-chip CSI300 index fell 0.14%, despite a 0.23% uplift in its financial sector. The consumer staples sector declined by 1.47%, real estate rose by 0.2%, and healthcare dropped by 0.7%. Notably, liquor giant Kweichou Moutai dipped nearly 2%, hitting its lowest since October 2022.

Investors are now eyeing upcoming economic data, including retail sales and house prices, for signs of improvement in domestic demand. Meanwhile, Chinese H-shares in Hong Kong rose by 0.81%, boosting the Hang Seng Index by 0.97% to 17,274.72 points. Tech shares led gains, with Meituan up 4% and Wuxi Apptec surging 7.4% following share buyback announcements.

(With inputs from agencies.)