Hong Kong stocks posted back-to-back gains on Friday, with the key index rising to its highest level in almost four months, as technology firms rallied amid enthusiasm related to Deepseek.
The Hang Seng Index surged 1.16%, or 241.92 points, to end at 21,133.54, the best finish since Oct. 10, 2024. The Hang Seng China Enterprises Index added 1.22%, or 93.72 points, to 7,784.07.
Investors continue to show interest in tech stocks amid AI hype, with Lenovo Group (HKG:0992), Xiaomi (HKG:1810), and Tencent (HKG:0700) soaring 6%, 5%, and 2%, respectively.
Software developer Weimob (HKG:2013) and e-commerce giant Alibaba Group (HKG:9988) also surged 11% and over 1%, respectively.
All eyes are on a US employment report that is expected to be released Friday. The jobs data will contribute to a decision by the US Federal Reserve regarding potential interest rate cuts.
In the meantime, investors remain hopeful of policy measures to counter US tariffs and negotiations to ease trade tensions.
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