Tech Surge Drives Hong Kong and China Stock Rally Amid AI Investment Boom
Hong Kong and China stock markets rose, driven by tech and AI shares. Analysts highlight Hong Kong tech firms' under-representation in global AI portfolios. The Hang Seng index climbed 1.1%, with tech stocks gaining 1.9%. Meanwhile, China reported a 2.3% jump in its CSI Internet Finance Index, amid fintech focus.
Hong Kong and China stock markets saw an upswing on Thursday, powered by technology and artificial intelligence shares. Analysts pointed out that tech firms listed in Hong Kong are often overlooked in global AI investment portfolios, presenting potential growth opportunities.
The blue-chip CSI300 Index and Shanghai Composite Index in China both rose by 0.2%, while the Hong Kong benchmark Hang Seng index increased by 1.1%. According to analysts at Huatai, Hong Kong's equity market is a strategic asset for global investors as it provides portfolio diversification and can hedge against U.S. dollar volatility.
Technology remains a pivotal investment theme, particularly as future global productivity gains are anticipated to rely on AI advancements. Hong Kong's tech stocks saw a 1.9% rise, following the surge in Chinese ADRs in New York. Onshore Chinese shares climbed 2.3%, with the CSI Internet Finance Index increasing by the same margin, as focus shifted to fintech after Hong Kong's stablecoin legislation. However, China's services sector showed mixed growth, impacted by U.S. tariffs.
(With inputs from agencies.)
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