HONG KONG, March 5 — China and Hong Kong stocks rose in early trade on Thursday after Beijing slightly tempered its annual economic growth target, signalling a shift towards economic rebalancing.
China’s blue-chip CSI300 Index gained nearly 1 per cent in the opening hour, while the Shanghai Composite Index added 0.5 per cent.
Hong Kong’s benchmark Hang Seng Index was up 1.3 per cent, after hitting a six-month low in the previous session.
China set its economic growth target for 2026 at 4.5 per cent-5 per cent, a slight downgrade from the 5 per cent pace achieved last year, which leaves room for bigger efforts to curb industrial overcapacity and rebalance the economy.
The country’s 15th five-year plan also pledged investments in innovation, high-tech industries, scientific research and a increase in household consumption as a share of economic output.
The CSI Artificial Intelligence Index and CSI Semiconductor Industry Index were up 2.4 per cent and 1.7 per cent, respectively, among the best winners. — Reuters