Market Updates
China Investors Debate Valuations Amid Rally In AI-Driven Stocks
Li Chen
24 Feb, 2025
Hong Kong
Stock market indexes in Hong Kong and China edged lower in Monday's trading after surging in the previous session.
The Hang Seng index declined 0.6%, and the CSI 300 index eased 0.2%, and investors debated earnings outlook and stretched valuation for tech companies.
The Hang Seng Index and the tech index jumped 4% and more than 6% in Friday's trading amid strong demand from foreign investors and institutional investors from the mainland.
Investors have been chasing internet platform operators in the hopes that the affordable artificial intelligence technology from Deep Seek will provide another cycle of revenue and earnings growth.
Moreover, investors welcomed Alibaba Group's announcement to invest as much as $53 billion in artificial intelligence technology and tools over the next three years.
In the year so far, to Monday's close, the CSI 300 index increased 4% and the Hang Seng index advanced 19%, and Hong Kong's benchmark index is leading world markets in 2025.
China Indexes and Stocks
The Hang Seng index decreased 0.6% to 23,341.61, and the CSI 300 index dropped 0.2% to 3,969.72.
Tech stocks were in focus in Hong Kong and Shanghai trading.
Alibaba Group decreased 2% to HK $135.70, Tencent Holdings declined 4% to HK $497.20, and Badu Inc. was unchanged at HK $89.50.
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Earnings
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