China’s STAR 50 Rises 2.35% at Midday as AI Chip Stocks Rally

The divergence is the story: mainland computing-power chip names are being bid while Hong Kong's tech complex sells off, with Zhipu and Alibaba among the weakest. That split suggests the rally is narrowly thematic rather than a broad risk-on move, and the CSRC's funding-broadening comments read as backdrop support rather than the catalyst. The open question is whether the chip strength holds into the close without Hong Kong's weakness bleeding across, and whether policy language on long-term funding translates into anything more concrete.