China stocks climb on Nvidia-led AI hardware rally; Hong Kong lags

China's industrial firms reported slower profit growth in July, with export-focused sectors riding the global AI boom, while industries reliant on domestic demand remained under pressure.

Hong Kong-listed tech heavyweights .HSTECH, which are dominated by internet platform firms and lack major hardware makers, edged up just 0.2%.

AI developer Minimax shares 0100.HK rose 3.6% after it posted a nearly four-fold jump in first-half revenue.

Hong Kong shares of Zhongji Innolight 3308.HK climbed 5% on inclusion in Stock Connect trading list.

Technology and hardware manufacturing shares led gains onshore. The 5G Communication Index .CSI931079 climbed 4.3%, while onshore artificial intelligence shares .CSI930713 rose 3.5%. The tech-focused STAR50 Index .STAR50 advanced by the same quantum.

Broader tech sentiment was lifted after Nvidia NVDA.O on Wednesday forecast a 70% jump in annual revenue, underscoring unrelenting demand for artificial intelligence hardware even as it warned that memory component shortages would constrain growth.

Chinese memory chip giant CXMT 688825.SS jumped 5.3%, while Shengyi Technology 600183.SS, a supplier of electronic base materials, surged 10%.

Optical fiber producers strengthened as well, with Yangtze Optical Fibre and Cable 601869.SS surging 10% to its daily maximum.

Onshore non-ferrous metal shares extended a rally, rising 1.7%, led by gold miners, with Hunan Gold 002155.SZ rising 10% to its daily trading maximum.