HONG KONG/SHANGHAI – Fear of missing out on China’s homegrown artificial intelligence boom after the emergence of startup DeepSeek is reviving investor appetite for Chinese tech stocks, helping offset concerns over weak domestic demand and U.S. tariffs.
As of Wednesday’s close, Hong Kong’s benchmark Hang Seng Index, which includes tech heavyweights like Tencent Holdings and Alibaba Group Holding, has gained nearly 9% since the start of the year. That makes it the best performer among major Asia equity benchmarks, ahead of South Korea’s KOSPI index, which is up 6.2%, or Japan’s Nikkei Stock Average, down 2.3%.
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