** China's blue-chip CSI 300 Index rose 0.75%,
while the Shanghai Composite Index climbed 0.62%.
** Hang Seng Index rose 0.34% and Hang Seng China
Enterprises Index added 0.31%.
** Asian shares tracked Wall Street lower on Thursday, as a
number of Federal Reserve speakers echoed Chair Jerome Powell in
saying that interest rates are set to go higher.
** The CSI Liquor index gained 2.71% after
Bloomberg reported on Wednesday an IPO plan by Chinese white
liquor maker Guizhou Guotai Liquor seeking to raise $500 million
in Hong Kong.
** Other liquor makers Wuliangyi Yibin up 3.23%
in Shenzhen; Kweichow Maotai adds 1.77% in Shanghai,
both hitting their highest levels this week.
** A recovery in consumption-led activity will take shape
from the first quarter onwards, according to a UBP report. UBP
has revised its GDP forecast for 2023 to 6% from 5.2%
previously.
** "Recently A-share market sentiment has retreated marginally. Some investors are monitoring the strength and pace of the economic recovery this year and thus they choose profit-taking in the near term," said Lei Meng, UBS Securities' China equities strategist in note.
** Meanwhile, net inflow into the A share market via the northbound stock connect has been down since end January, while turnover dropped since Feb. 2.
** January northbound net inflow totalled 141.3 billion yuan, its biggest monthly flow on record.
** Offshore mutual funds which invest in A shares recently
cut positions, UBS said.
** "We expect to see some more net inflows of long-term
foreign capital into the A-share market as more evidence of
economic recovery surface;" northbound net inflow could top 300
billion yuan this year," Meng said.
** Xiaomi led the gains in the Hang Seng Index , up 4.17%
** But capping the upside was Baidu , with a 5.34%
drop in Hong Kong shares. The drop in index came after a 15%
jump on Tuesday on news about their ChatGPT-like AI chatbot
called Ernie Bot.
** China's state media The Securities Times ran a front-page
editorial Tuesday warning of the risks in speculating on stocks
riding on the recent ChatGPT hype.
(Reporting by Georgina Lee Hong Kong Newsroom; Editing by
Dhanya Ann Thoppil)
