China and Hong Kong Markets Rally Amidst Regulatory Shifts

China and Hong Kong stock markets closed the week on a high note as investor confidence grew following Beijing's clampdown on aggressive price competition among companies.

The CSI300 Index ended 0.6% higher and the Hang Seng Index rose by 1.3%, highlighting a positive week for the markets. China's drive to address involution competition and deflationary pressures was a key factor.

The electric vehicle sector was a focal point, with China's cabinet pledging to address 'irrational' competition. Tech companies, buoyed by Nvidia's plans to enhance chip supply, also saw significant gains, as did Alibaba with a notable 10% weekly gain.

(With inputs from agencies.)