Market Updates
China and Hong Kong Stocks Hover Near Recent Highs Amid AI-Driven Enthusiasm
Li Chen
17 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong hovered near five-month highs amid continued speculation in artificial intelligence-driven stocks.
The Hang Seng index decreased 0.3%, and the mainland-focused CSI 300 index wavered around the flatline.
The success of Deep Seek, an artificial intelligence-driven chatbot, drove investors to pile in, leading Internet platform operators in the hopes that access to affordable advanced technology may fuel earnings growth.
Foreign and mainland China-focused investors have been increasing exposure to leading tech and tech-driven stocks, and the Hang Seng index has rebounded to a five-month high.
In the year so far, the Hang Seng index has jumped more than 15%, driven by a surge of 7% in the previous week.
Tech stocks were in focus after China's premier Xi Jinping chaired a meeting with executives from leading tech companies, including Huawei, BYD, Tencent Holdings, Xiaomi, and CATL.
China Indexes and Stock
The Hang Seng index decreased 0.3% to 22,558.69, and the mainland-focused CSI 300 index declined a fraction to 3,937.54.
Tencent Holdings jumped 4.4% to HK $496.0, Meituan decreased 0.6% to HK $168.90, Alibaba Group Holding declined 0.5% to HK $123.40, and BYD dropped 2% to HK ¥348.50.
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