Mainland Chinese Stocks See Mixed Performance as Lunar New Year Optimism Wanes

Despite initial gains, mainland Chinese stocks experienced a downturn, influenced by profit-taking and mixed economic signals.

Mainland Chinese stocks opened higher but faced declines amid profit-taking and mixed economic signals.
Strong Lunar New Year travel and consumption data initially boosted market optimism.
Government and institutional investors supported the market, with several China ETFs seeing high volumes.
Hong Kong stocks were off on profit-taking, with major companies like Tencent and Alibaba experiencing declines.
Asian markets overall showed volatility, with optimism fading as the day progressed.