(Hong Kong) The Hang Seng Index has opened with a notable increase of 513 points, or 2.27%, reaching 23,090 points. Meanwhile, the National Enterprises Index rose by 203 points, equivalent to 2.45%, settling at 8,526 points. The Technology Index also saw significant gains, climbing 184 points, or 3.36%, to 5,684 points.
Leading the charge were technology stocks, with Alibaba experiencing a remarkable surge of 10% after its earnings report. Tencent rose by 3.7%, Meituan by 1.2%, Xiaomi Group by 1.8%, JD.com by 4.5%, Kuaishou by 4.5%, and Bilibili saw an impressive increase of 9.4%.
In the financial sector, the performance was mixed; HSBC Holdings fell by 0.7%, while AIA Group gained 1.8%, Ping An of China rose by 1.4%, and the Hong Kong Stock Exchange increased by 2.5%.
Hong Kong's stocks jumped 542 points or 2.4% to 23,115 in early deals on Friday, reversing losses in the prior session amid robust gains in most sectors notably consumers and tech. Alibaba Group Hlds. surged over 9%, hitting its highest in over 3 years after reporting the strongest revenue growth in more than a year. The Hang Seng notched its highest in 19 weeks, heading for its sixth consecutive week of gains and marking the longest winning streak in nearly a year, up around 2% so far. Enthusiasm over China's AI sector, particularly following the emergence of DeepSeek, continues to boost sentiment. Meanwhile, Beijing this week encouraged foreign companies to invest in the Chinese stock market, anticipating that foreign capital will contribute to long-term investments. Traders shrugged off local data showing Hong Kong's annual inflation climbed to a 4-month top of 2% in January. Some top movers included China Unicom (8.9%), Li Auto (6.3%), Xiaomi Corp. (4.9%), and Tencent Hlds. (3.8%).
Source: Dimsumdaily.HK & Trading Economi
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