Tech stocks have been at the forefront of the HSI rally, driven by optimism over Chinese startup DeepSeek’s breakthrough in artificial intelligence and government support for AI development and other private sectors.
Hong Kong’s equity benchmark is trading near its highest level in over three years, thanks to a rally sparked by a breakthrough in artificial intelligence earlier in the year as well as strong demand from mainland investors.
The Hang Seng Index advanced as much as 1.1% on Wednesday before trimming gains. It was still on track for a fifth straight session of gains. Alibaba Group Holding and Tencent Holdings were among the top contributors. Another closely watched gauge, the Hang Seng China Enterprises Index, also jumped as much as 1.3%.
