Shares of KE Holdings Inc., a leading Chinese real estate platform, surged 5% in pre-market trading on Tuesday, outperforming the broader market. This move can be attributed to the overall bullish sentiment surrounding Chinese tech stocks, fueled by optimism surrounding the country's push for technological self-sufficiency and the rise of its domestic artificial intelligence (AI) industry.
The rally in KE Holdings' stock was part of a broader rebound in Chinese tech stocks and American Depository Receipts (ADRs) trading on U.S. exchanges. According to reports, stocks like Li Auto, XPeng, and Alibaba also saw significant gains in pre-market trading, as mainland investors doubled down on their bets in China's tech sector.
The renewed optimism in Chinese tech stocks comes amidst growing tensions between the U.S. and China over technological supremacy. Mainland investors appear to be betting on China's ability to achieve self-sufficiency in key technologies like AI, particularly in light of the recent success of DeepSeek, a Chinese startup that has made significant strides in developing cost-effective AI models.
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