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Bets of Easing Crackdown Spur Dizzying Jump in China Tech Stocks

  • Hang Seng Tech Index surges 10%, most since March 16
  • Authorities vow to support healthy growth of platform firms
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Chinese Technology Stocks Gain on Possible Easing of Crackdown
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Technology stocks led a broad rally in Chinese equities on Friday as the nation’s top leaders vowed to boost economic stimulus and as speculation grew about a possible easing of the continued crackdown on internet firms.

The Hang Seng Tech Index jumped 10% in Hong Kong, the most since March 16, led by names like Alibaba Group Holding Ltd. and Inc. The Communist Party’s Politburo said authorities will unveil specific measures to support the healthy and normal development of the platform economy.