SHANGHAI, Feb 12 (Reuters) - China and Hong Kong shares closed higher on Wednesday, led by tech and property shares, as the market was fuelled by AI-driven revaluation opportunities and optimism that authorities may help indebted property developers.
** China's blue-chip CSI300 Index ended 1% higher, while the Shanghai Composite Index was up 0.9%. Hong Kong benchmark Hang Seng was up 2.6%.
** Alibaba's Hong Kong shares surged over 8%, Kode Syair HK hitting a four-month peak after the Information reported Apple is partnering with the Chinese tech giant to roll out artificial intelligence features for iPhone users in China.
** The tech major's shares traded in Hong Kong rose 2.6%.
** "Technology fuelled rallies typically saw share prices rise ahead of earnings and this year, with ample liquidity and lower interest rates, we see valuation re-rating opportunities ahead for AI-related names," said UBS strategist James Wang.
** "The internet companies are likely to be longer-term beneficiaries of cheaper AI models and remain attractive given the cheap valuation and capital return initiatives on offer," Wang said.
** China's AI stocks rose 2% on Wednesday and have risen 13% this month.
** Meanwhile, onshore real estate shares jumped nearly 5%, with Vanke up 10%, after media reported that Chinese authorities are exploring a plan to help the property giant plug a funding gap of about 50 billion yuan ($6.84 billion) this year.
** Mainland developers traded in Hong Kong also surged nearly 6%.
** Global investors are starting to reassess China's investability within the tech and AI space, as U.S.-China competition has expanded from trade or tariffs to high-end manufacturing and AI, said equity strategists at Morgan Stanley.
** Shares of Chinese bubble tea maker Guming slid by as much as 10% in their trading debut.
(Reporting by Shanghai Newsroom; Editing by Eileen Soreng and Mrigank Dhaiwala)
** China's blue-chip CSI300 Index ended 1% higher, while the Shanghai Composite Index was up 0.9%. Hong Kong benchmark Hang Seng was up 2.6%.
** Alibaba's Hong Kong shares surged over 8%, Kode Syair HK hitting a four-month peak after the Information reported Apple is partnering with the Chinese tech giant to roll out artificial intelligence features for iPhone users in China.
** The tech major's shares traded in Hong Kong rose 2.6%.
** "Technology fuelled rallies typically saw share prices rise ahead of earnings and this year, with ample liquidity and lower interest rates, we see valuation re-rating opportunities ahead for AI-related names," said UBS strategist James Wang.
** "The internet companies are likely to be longer-term beneficiaries of cheaper AI models and remain attractive given the cheap valuation and capital return initiatives on offer," Wang said.
** China's AI stocks rose 2% on Wednesday and have risen 13% this month.
** Meanwhile, onshore real estate shares jumped nearly 5%, with Vanke up 10%, after media reported that Chinese authorities are exploring a plan to help the property giant plug a funding gap of about 50 billion yuan ($6.84 billion) this year.
** Mainland developers traded in Hong Kong also surged nearly 6%.
** Global investors are starting to reassess China's investability within the tech and AI space, as U.S.-China competition has expanded from trade or tariffs to high-end manufacturing and AI, said equity strategists at Morgan Stanley.
** Shares of Chinese bubble tea maker Guming slid by as much as 10% in their trading debut.
(Reporting by Shanghai Newsroom; Editing by Eileen Soreng and Mrigank Dhaiwala)