0420 GMT - Chinese shares are higher at the midday break, with the Shanghai Composite Index adding 0.8% at 3376.72. The Shenzhen Composite Index gains 1.4% at 2084.59 and ChiNext Price Index is 2.2% higher at 2275.32. Investor sentiment has been boosted by positive tech earnings, with Alibaba posting its highest revenue growth in more than a year. Among major stocks, hardware companies are leading the gains as investors expect higher chip demand as AI adoption widens. SMIC adds 5.7% and Hygon Information Technology gains 16%. Banks are lower; China Construction Bank is 1.4% lower and Industrial & Commercial Bank of China, declines 1.3%. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 23:20 ET (04:20 GMT)
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