By jiaxing for me
Hong Kong (Reuters) – The shares of the Chinese technology listed in Hong Kong have advanced on Friday to get the best weekly winning series since 2020, as it attracted profits and optimism about the world’s artificial intelligence sector in this sector.
The Hang Seng Tech has closed by 6.5 %, which is the best gain for one day since October, reaching its highest level in three years.
This has reached more than 6 % in the sixth consecutive week of progress, which is the tallest victory chain since May 2020.
The Hang Kong index of Hang Kong introduces a three -year highest level.
Alibaba increased by 14.6 % to the top since late 2021, after she informed the Chinese e -commerce giant about the best than expected and said it plans to invest more in e -commerce and AI.
Lenovo has advanced more than 15 % to the highest level in ten years after the quarterly results were shattered, while Xiaomi added 5.2 %, reached a record level.
The shares of Chinese technology have been on rupture since the launch of the Deepseek model of low -cost artificial intelligence last month that sparked the interest of global investors in China and stimulating money in the sector due to its relatively cheap assessments.
Investors are betting on the meeting of President Xi Jinping rare with the country’s largest business leaders – including the founder of Alibaba Jack MA – can refer to a policy of tracking years of repression in this sector, which increases the nourishment of the assembly.
“There is a lot that the evaluation discount to emerging markets to narrow more,” HSBC analysts said in a note, noting that foreign investment flows have returned in the past two weeks.
The wild stocks also increased on Friday, with the Bluechip CSI index added 300 1.3 % and climbed the Shanghai compound index 0.9 %. Both standards are at the highest level since late December.
James Cook, director of investment in emerging markets in Hermes, said that the technology gathering in China helped add more than $ 1.3 trillion to the country’s land and external stock markets in just one month, prompting investment flows away from India and China. Rapid knees with global artificial intelligence madness after losing it.
(Jiakeng Lee reports in Hong Kong; Edit by Sonali Paul and Jaran Vinkraman)