China’s Tech Gauge Jumps to Record High on AI-Fueled Rally

A gauge of Chinese tech shares surged to a record high, joining a broader artificial intelligence-related rally sweeping across Asian markets as investors piled into growth sectors.

The Star 50 Index advanced 5.5% as trading resumed after an extended holiday, pushing the gauge to an all-time high. The index rose as much as 9.2% earlier in the day. Memory chipmakers including Hygon Information Technology Co. tracked regional peers higher, while heavyweight Cambricon Technologies Corp. also jumped.