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ASIA STOCKS: China & Hong Kong Equities Trade Higher, Tech Surges

ASIA STOCKS
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  • Hong Kong and Chinese equities extended their rallies on Friday, driven by optimism over AI advancements and a measured U.S. approach to tariffs. The Hang Seng Index surged 2.3%, heading for its fifth consecutive weekly gain, while the Hang Seng Tech Index jumped 3.2%, surpassing its October highs. Chinese offshore tech stocks rallied, with Alibaba (+2.3%), Tencent (+4%), and Meituan (+4.4%) leading gains, supported by investor enthusiasm over AI startup DeepSeek and its impact on China's AI sector.
  • On the mainland, the CSI 300 Index rose 0.8%, while the Shanghai Composite added 0.1%. Sentiment was further lifted by reports of a potential state-backed National Data Group, consolidating key industry data, driving stocks like Beijing E-Hualu (+15%) and Beijing Topnew Info&Tech (+20%) higher.
  • While some remain cautious about the sustainability of the AI rally, hedge fund flows into Chinese stocks have accelerated, with China's growing tech momentum, as per BBG
  • Investors now turn their focus to March's Two Sessions meetings for potential policy support to sustain the rally.
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  • Hong Kong and Chinese equities extended their rallies on Friday, driven by optimism over AI advancements and a measured U.S. approach to tariffs. The Hang Seng Index surged 2.3%, heading for its fifth consecutive weekly gain, while the Hang Seng Tech Index jumped 3.2%, surpassing its October highs. Chinese offshore tech stocks rallied, with Alibaba (+2.3%), Tencent (+4%), and Meituan (+4.4%) leading gains, supported by investor enthusiasm over AI startup DeepSeek and its impact on China's AI sector.
  • On the mainland, the CSI 300 Index rose 0.8%, while the Shanghai Composite added 0.1%. Sentiment was further lifted by reports of a potential state-backed National Data Group, consolidating key industry data, driving stocks like Beijing E-Hualu (+15%) and Beijing Topnew Info&Tech (+20%) higher.
  • While some remain cautious about the sustainability of the AI rally, hedge fund flows into Chinese stocks have accelerated, with China's growing tech momentum, as per BBG
  • Investors now turn their focus to March's Two Sessions meetings for potential policy support to sustain the rally.