Stock Track | TRIP.COM-S Soars 5.54% as Hong Kong Aims to Boost Tech Listings and AI Development

Stock Track

02-26

TRIP.COM-S, a leading online travel company, saw its stock surge 5.54% on Wednesday during the trading session. The rally was fueled by recent developments in Hong Kong that are expected to benefit the tech sector.

Hong Kong announced plans to establish a dedicated "technology enterprises channel" on the stock exchange, designed to expedite the listings of tech companies, particularly those already listed in mainland China. This move aims to enhance Hong Kong's attractiveness as a fundraising hub and capitalize on the growing appetite of Chinese firms to raise funds offshore.

Additionally, Hong Kong's annual budget unveiled by Financial Secretary Paul Chan revealed a significant push towards artificial intelligence (AI) and other high-tech sectors. The government plans to allocate HK$1 billion to establish an AI Research and Development Institute, aligning with China's strategic focus on AI and robotics.

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