Market Updates
Tech-Driven Market Rally In China Extended Gains, Alibaba Group Traded at 4-Year High
Li Chen
25 Sep, 2025
Hong Kong
Stocks in China and Hong Kong advanced as investors bid up AI-driven tech stocks on Thursday.
The Hang Seng index increased 0.4%, and the mainland-focused CSI 300 index advanced 0.35% after a super typhoon ravaged several areas in Southern China.
The Hong Kong Stock Exchange operated normal hours on Wednesday, as the most powerful storm of 2025 passed the city, but the damage was less severe than expected.
Artificial intelligence-driven stocks advanced after Alibaba rolled out new products and announced its plans to increase spending for AI projects over the next three years.
Moreover, investors altered portfolios ahead of the approaching National Day holiday on October 1.
China Indexes and Stocks
The Hang Seng Index increased 0.4% to 26,612.74, and the mainland-focused CSI 300 Index gained 0.4% to 4,608.50.
Alibaba Group increased 0.3% to HK$174.60 after the company said it plans to exceed its previously announced capital spending of 380 billion yuan over the next three years for AI projects.
Tencent Holdings advanced 1.4% to HK$658.0, Meituan added 0.5% to HK$102.80, and JD.com Inc. jumped 6.2% to HK$141.20.
Chery Automobile Co. Ltd. advanced 10% to HK33.52 after China's largest automobile exporter listed its stock on the Hong Kong Stock Exchange.
Chery sold 297.4 million shares at a price of HK$30.75 per share and raised HK$8.9 billion. The automobile maker sold 267.7 million shares to foreign investors and 29.7 million to Hong Kong-based investors.
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