AI Boom Drives Tech Stock Rebound! Hang Seng Tech Nears ‘Longest Winning Streak in History’
The Hang Seng Tech Index is poised to record its longest winning streak since its inception, with investor enthusiasm for the AI sector driving continued gains in tech stocks on Thursday. The index is set to achieve its eighth consecutive weekly rise. The government’s announcement of increased support for the technology sector has injected new momentum into the market. Alibaba’s decision to boost AI investment and establish a new partnership with NVIDIA has further bolstered investor confidence.
Chinese technology stocks extended their strong rally, with the Hang Seng Tech Index on track to record its longest winning streak since its inception. Continued investor enthusiasm for the AI sector drove tech stocks higher on Thursday, marking the index’s eighth consecutive weekly gain.
Thursday $Hang Seng TECH Index (800700.HK)$ rose nearly 2% at one point, $HUA HONG SEMI (01347.HK)$ and $JD-SW (09618.HK)$ led by companies such as.
The government announced increased support for the technology sector, injecting new momentum into the market. $BABA-W (09988.HK)$ The announcement of increased AI investment and the establishment of new partnerships has further boosted investor confidence. $NVIDIA (NVDA.US)$ Benefiting from these positive factors, the Hang Seng Tech Index has risen approximately 44% year-to-date, reflecting a strong recovery momentum in China’s technology stocks.
AI Boom Leads Tech Stock Rebound
Chinese technology companies have performed strongly recently, primarily benefiting from breakthrough advancements in the artificial intelligence field. Start-up DeepSeek’s astonishing technological breakthrough captured global attention, fueling investment enthusiasm for Chinese AI developers.
Huahong Semiconductor and JD.com were among the top gainers on Thursday. As an e-commerce giant, JD.com’s AI development plans drew significant market attention. Semiconductor manufacturer Huahong benefited from the overall positive trends across the AI supply chain.
Vey-Sern Ling, Managing Director of Union Bancaire Privee, stated:
Optimism surrounding AI is undoubtedly a driving factor. The confidence shown by Alibaba yesterday in raising capital expenditures spread positive sentiment throughout the technology sector.
Dual Benefits for Policy and Enterprises
The government’s increased support for the technology sector has provided significant momentum to the market, with official announcements confirming additional backing for the industry.
Alibaba’s latest initiatives have become the focal point of market attention. The company plans to substantially increase investment in the AI field and establish a new partnership with NVIDIA, demonstrating the firm confidence of China’s tech giants in the future of AI.
Ling also noted that concerns over cutthroat competition in the food delivery and instant commerce sectors seem to be easing due to tightened government regulation, creating a more favorable investment environment for tech stocks.
Record-Breaking Rally Reshapes Market Dynamics
The Hang Seng Tech Index is set to achieve its eighth consecutive weekly gain, marking the longest winning streak since the index’s inception. A year-to-date cumulative increase of 44% highlights the robust recovery momentum of China’s tech stocks.
The notable improvement in investor sentiment indicates that the market has regained confidence in the competitiveness of Chinese tech companies in the AI era.
Editor/KOKO
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