OpenClaw AI Mania Fires up Chinese Tech Leaders, Cloud Stocks

Chinese software shares surged Monday after local government agencies joined tech leaders such as Tencent Holdings Ltd. in promoting viral AI software OpenClaw, spurring hopes of a fresh wave of sectoral development.

Shares of UCloud Technology Co., QingCloud Technologies Corp. and Hangzhou Shunwang Technology Co. all jumped around 20%, outperforming a mainland benchmark CSI 300 Index that closed about 1% lower.