RLX Technology Inc. (RLX) experienced a significant surge of 5.26% in its stock price intraday on Friday, as investor sentiment towards Chinese tech companies improved. The renewed optimism in the sector was fueled by the impressive AI capabilities demonstrated by Chinese startup DeepSeek, which has been hailed as a game-changer for the tech industry.
The announcement by DeepSeek, which unveiled an AI app developed at a fraction of the cost compared to its US rivals, has prompted investors to rethink their investment thesis for China's beaten-down shares. This development has highlighted the nation's innovative capabilities and has sparked interest in Chinese tech companies that were previously overlooked.
Analysts and portfolio managers have pointed out that while the Chinese tech sector has been largely ignored, there are bright spots within purely domestic sectors that have benefited from China's industrial policy initiatives, such as the "Made in China 2025" program. The recent surge in RLX Technology's stock price reflects this renewed investor confidence in Chinese tech companies and their potential for growth.
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