China stocks edge towards one — year low, dragged down by AI hardware share
SHANGHAI, Oct 14 (Reuters) — Chinese stocks slipped on Wednesday as a selloff in AI-related supply chain shares deepened and as investors digested mixed domestic inflation data, leaving the blue-chip benchmark hovering near a one-year low. * The CSI300 Index dropped 0.3% by the lunch break, while the Shanghai Composite Index was flat. Hong Kong's benchmark Hang Seng edged up 0.2%. * Chinese producer prices rose at their fastest pace in more than four years in September, while consumer inflation came in below expectations. Pricier oil and commodities lifted factory-gate costs even as weak domestic demand kept broader price pressures contained. * Energy-related stocks rose as oil prices climbed on Saudi supply risk. The Coal Index was up 1.2%, while the CSI Energy Index climbed nearly 2%. * Consumer staple shares gained 0.7%. * Meanwhile, sentiment towards AI supply chain shares continued to fall. The 5G Communication Index fell 1.5%. The tech-focused STAR50 Index was down 1.1%. * Zhongji Innolight, a leading maker of optical transceivers used in AI data centres, slid 2.6%. * China's stock benchmarks are near levels hit two years ago when a stimulus bonanza from Beijing lit up share
SHANGHAI, Oct 14 (Reuters) — Chinese stocks slipped on Wednesday as a selloff in AI-related supply chain shares deepened and as investors digested mixed domestic inflation data, leaving the blue-chip benchmark hovering near a one-year low. 3% by the lunch break, while the Shanghai Composite Index was flat. 2%. * Chinese producer prices rose at their fastest pace in more than four years in September, while consumer inflation came in below expectations.
Pricier oil and commodities lifted factory-gate costs even as weak domestic demand kept broader price pressures contained. * Energy-related stocks rose as oil prices climbed on Saudi supply risk. 2%, while the CSI Energy Index climbed nearly 2%. 7%.
* Meanwhile, sentiment towards AI supply chain shares continued to fall. 5%. 1%. 6%.
* China's stock benchmarks are near levels hit two years ago when a stimulus bonanza from Beijing lit up share prices and boosted hopes for a slow bull run, which is now limping into a three-month downtrend. * HSBC analysts cut their end-2026 targets for the Shanghai Composite, CSI300 and Shenzhen Composite indexes by 9% to 15%, to 4,100, 4,800 and 14,500 respectively, implying upside of 8% to 15% from current levels. * Value stocks have outperformed growth since July, but the analysts said the trend could prove temporary, citing growth stocks' lower valuations and stronger earnings-revision momentum. 6%.
Still, the index was hovering near a two-year low. com)