Hong Kong stocks rose on Wednesday, lifting the benchmark index to its highest level in four months, as the hype over DeepSeek continued to drive sentiment after UBS Group and Morgan Stanley said that the rally had more room to run.
The Hang Seng Index jumped 2.6 per cent to 21,857.92 at the close, the highest since October 7. The Hang Seng Tech Index surged 2.7 per cent, extending a 20 per cent gain from a January low that powered the gauge into a bull market last week.
On the mainland, the CSI 300 Index rose 1 per cent and the Shanghai Composite Index added 0.9 per cent.
Alibaba Group Holding rallied more than 8 per cent after the Post reported that the e-commerce giant tied up with Apple to develop artificial intelligence (AI) features for iPhones in China. Chipmaker Semiconductor Manufacturing International Corporation (SMIC) advanced after a jump in revenue last year.
