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Tech And Property Shares Drive China, HK Stocks Higher

DSETarah48800976 2025.03.02 10:13 查看 : 5

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)