ByteDance’s New Video Model Sparks Rally in China AI App Stocks

ByteDance Ltd.’s latest video generation model triggered gains in shares of Chinese media and artificial-intelligence application firms, after impressing analysts with the quality of content creation.

Publishing firm COL Group Co. hit the 20% daily upper trading limit, while Shanghai Film Co. and gaming and entertainment firm Perfect World Co. each rose by 10%. The onshore benchmark CSI 300 Index was up 1.4%.