Hong Kong stocks rose on Friday, halting a five-day slump, as investors resumed buying tech companies on optimism that advances in artificial intelligence (AI) will sustain a bull run this year. Port operator CK Hutchison plunged after its politically charged sale of port assets.
The Hang Seng Index jumped 2.1 per cent to 23,959.98 at the close, following a 3.7 per cent cumulative loss over the preceding five trading days stoked by trade war concerns. The Hang Seng Tech Index climbed 2.3 per cent, while the Shanghai Composite Index gained 1.8 per cent.
Alibaba Group Holding rose 3.3 per cent to HK$135.80, while Wuxi Biologics surged 14 per cent to HK$26.65 and Baidu added 2.3 per cent to HK$91.65. Mengniu Dairy jumped 9 per cent to HK$19.80, Zijin Mining Group surged 4.9 per cent to HK$17.08 and EV maker BYD strengthened 6.9 per cent to HK$385.80.
Hong Kong’s stock market has risen 19 per cent this year, while the tech barometer…
