HSTECH gained slightly as Kingsoft soared over 30%, SMIC, Xiaomi and Li Auto rose 4%.

Chinese stocks have been rangebound over the past two months, as traders have been waiting for the effective implementation of the government’s stimulus measures. Investors expect Beijing to deliver more interest-rate cuts and raise the government borrowing limit next year to spur growth after a shift in policy from Beijing’s top officials.

The People’s Bank of China refrained from cutting borrowing costs on Wednesday, leading analysts to believe it is refraining from using its policy tools until later to deal with the economic impact of the Trump administration. Economic data from November showed China’s uneven recovery continued, with consumer spending languishing and producer-price deflation lingering.

“Despite previous attempts at stimulation through monetary easing and liquidity boosts, the results have been underwhelming,” said Stephen Innes, managing director of SPI Asset Management in Bangkok. “With deflation fears nipping at its heels, Beijing is poised to act decisively.”

Chinese EV maker Li Auto expands into AI, humanoid robots

Chinese electric vehicle (EV) maker Li Auto aims to transform into an AI company.

The company plans to develop humanoid robots in the future, as detailed by founder and CEO Li Xiang in a video on its website.

Li Auto intends to create its foundational AI model, Mind GPT, with the goal of ranking among China’s top three models in the coming years.

This ambition positions the company in competition with tech firms beyond the EV sector.

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Additionally, Li Auto is preparing to launch a mobile app for its AI assistant, Lixiang Tongxue, which is based on Mind GPT.