China blue-chips slip as recovery falters; banks, AI firms shine

China’s blue-chip stocks slipped on Thursday, while investors snapped up banking and artificial intelligence (AI) shares after data showed the country’s economic recovery was losing steam.

China’s blue-chip CSI300 Index closed down 0.1 per cent, while the Shanghai Composite Index added 0.4 per cent.

Hong Kong’s benchmark Hang Seng Index ended 0.9 per cent higher, while the Hang Seng China Enterprises Index advanced 1.2 per cent.

Other Asia-Pacific share indexes rallied, following Wall Street’s lead, and the dollar held just below a two-month high versus the yen amid signs the United States might be close to a deal to raise the debt ceiling and avert a disastrous default.