Chinese Tech Stocks Rally After Upbeat Earnings
- Alibaba, Bilibili, Lenovo surge in HK after reporting results
- Xi’s meeting with sector leaders is another catalyst: analyst
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Chinese technology shares jumped on Friday, as a slew of upbeat earnings boosted sentiment and optimism over artificial intelligence continued to attract investors.
A gauge of Chinese technology stocks traded in Hong Kong closed up 6.5% Friday at the highest level since early 2022, while the onshore SSE Science and Technology Innovation Board 50 Index ended 6% higher, the most in four months.