SHANGHAI: China stocks edged up on Wednesday, led by chipmakers on expectations of national support, while gains were capped as data showed the country’s exports growth weakened in August.
Hong Kong’ main benchmark, meanwhile, dropped for a fifth straight session to the lowest level since mid- March, amid tightening overseas monetary policies and regulatory overhangs.
The blue-chip CSI 300 index and the Shanghai Composite index both ended up 0.1%. The Hang Seng Index fell 0.8%, while the Hang Seng China Enterprises Index lost 0.7%. Other Asian stocks fell, as investors took no cheer from strong US economic data and as weaker-than-expected Chinese trade numbers pressed the yuan lower.
Exports rose 7.1% in August from a year earlier, as surging inflation crippled overseas demand and fresh COVID-19 curbs and heatwaves disrupted production, reviving downside risks for the economy.
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