Hong Kong Stocks Surge Amid Tech Revival
6 Articles
6 Articles
Alibaba Busts A Move
Key News While Hong Kong outperformed, Asian equities were largely lower, led by South Korea’s KOSPI, which fell -5.35% overnight, though remains up +64.99% year-to-date (YTD). That is compared to the KOSDAQ’s -18.62% YTD decline, making for a truly incredible intra-market disparity. Japan, India, Thailand, and Indonesia all closed lower overnight. Hong Kong’s rally was driven by Alibaba, which gained +12.21% on absolutely massive volume of 282 …
According to ChainCatcher and Gate market data, the Hong Kong Hang Seng Index closed up 702.57 points, or 2.99%, at 24,199.46 points on Wednesday, July 8th; the Hong Kong Hang Seng Tech Index closed up 223.98 points, or 4.97%, at 4,731.02 points; the H-share Index rose 313.96 points, or 4.04%, to 8,084.22 points; and the Red Chip Index rose 69.8 points, or 1.83%, to 3,874.93 points.
The Hang Seng Index rose by almost three percent, led by tech shares such as Alibaba and Tencent, following a DeepSeek announcement on AI chip development.
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