Weibo Corp.'s stock soared 5.11% in intraday trading on Friday, outperforming the broader market, as the Chinese social media platform benefited from a surge in investor enthusiasm for the country's technology and internet sectors.
The rally in Weibo's shares was part of a broader advance in U.S.-listed Chinese stocks, fueled by upbeat earnings reports from leading companies like Alibaba Group Holding Ltd. and growing optimism surrounding China's artificial intelligence industry.
Other Chinese tech giants, including e-commerce firms Alibaba, JD.com, and PDD Holdings, as well as gaming companies Bilibili and NetEase, also witnessed significant gains. The positive sentiment spread across various sectors, lifting electric vehicle makers like Li Auto, Nio, and Xpeng, as well as online education providers and brokerages.
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