Chinese Tech Shares in Hong Kong Enter Bull Market on AI Model Interest
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The Hang Seng Tech Index is entering a bull market, driven by interest in an inexpensive AI model from DeepSeek, bolstered by gains from major Chinese tech firms.
A gauge of Chinese tech shares trading in Hong Kong is set to enter a technical bull market after a budget-friendly artificial intelligence model from startup DeepSeek has sparked renewed interest in China's internet firms.
The Hang Seng Tech Index saw an increase of up to 0.5%, marking a total gain of 20% since a low point in January. Key players like Xiaomi Corp., Li Auto Inc., and Kingdee International Software Group Co. were instrumental in driving much of the gauge's upward movement on Friday. The index is known for its volatility, having just transitioned into a bear market last month.
