Market Updates
Tech Rally Powered Weekly Gains In China and Hong Kong Indexes
Li Chen
07 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong extended weekly gains following the sustained rally in tech stocks for the third day in a row.
The Hang Seng index gained 0.4%, and the CSI index advanced nearly 1% as investors awaited clarity on previously announced stimulus measures.
Tech stocks extended gains in the holiday-shortened week after investors returned from the weeklong Lunar New Year holidays.
Chinese electronic products and systems makers are likely to be big winners from the availability of artificial intelligence technology and frameworks from DeepSeek.
Mainland China investors bid up state-owned enterprises in the hopes that policymakers will announce additional measures to revive property market.
China Indexes and Stock Movers
The Hang Seng index increased 0.4% to 20,967.80, and the mainland-focused CSI 300 index rose 0.9% to 3,876.08.
Lenovo Group increased 5.7% to HK $12.16 in the hope that the personal computing equipment maker is likely to benefit from the availability of cheap artificial intelligence products from DeepSeek.
Xiaomo Corp. advanced 4.5% to HK $41.90 after the company announced the release of a new smartphone and electric vehicle.
Electric vehicle makers advanced following a surge in tech stocks.
Li Auto jumped 5.8% to HK $101.50, BYD gained 3.5% to HK $326.80, and Geely Automobile Holdings advanced 3.3% to HK $17.52.
Annual Returns
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Earnings
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