Hang Seng Technology approaches "the longest consecutive rise record in history"
The Hang Seng TECH Index is expected to set the longest consecutive rise record since its establishment, as investors' continued enthusiasm for the AI sector drove technology stocks to rise again on Thursday, with the index on track for its eighth consecutive week of gains. The government announced increased support for the technology industry, injecting new momentum into the market. Alibaba announced an increase in AI investment and established a new partnership with NVIDIA, further boosting investor confidence
Chinese technology stocks continue their strong upward trend, with the Hang Seng TECH Index expected to set a record for the longest consecutive weekly gains since its inception. Investor enthusiasm for the AI sector has driven technology stocks to rise again on Thursday, with the index poised for its eighth consecutive week of gains.
On Thursday, the Hang Seng TECH Index rose nearly 2% at one point, led by companies such as Hua Hong Semiconductor and JD.com.
The government announced increased support for the technology industry, injecting new momentum into the market. Alibaba announced an increase in AI investments and established a new partnership with NVIDIA, further boosting investor confidence. Benefiting from these positive factors, the Hang Seng TECH Index has accumulated a rise of about 44% this year, demonstrating a strong recovery momentum for Chinese technology stocks.
AI Boom Leads Technology Stock Rebound
Chinese technology companies have recently performed strongly, primarily benefiting from breakthrough advancements in the field of artificial intelligence. The remarkable technological breakthroughs by startup DeepSeek have attracted global attention, driving investment enthusiasm for Chinese AI developers.
Hua Hong Semiconductor and JD.com were the leading stocks on Thursday. As an e-commerce giant, JD.com's AI development plans have garnered widespread market attention. Chip manufacturer Hua Hong Semiconductor has benefited from the overall positive outlook for the AI industry chain.
Vey-Sern Ling, Managing Director of Union Bancaire Privee, stated:
The optimism surrounding AI is undoubtedly one of the driving factors, and Alibaba's announcement yesterday to increase capital expenditures has brought positive sentiment across the technology sector.
Dual Benefits from Policy and Enterprises
The government's increased support for the technology industry has provided significant momentum for the market, with officials announcing plans to enhance support for the sector.
Alibaba's latest initiatives have become the focus of market attention, as the company plans to significantly increase investments in the AI field and establish a new partnership with NVIDIA, demonstrating the firm confidence of Chinese technology giants in the prospects of AI.
Ling also pointed out that concerns about cutthroat competition in the food delivery and instant commerce sectors seem to be easing due to increased government regulation, creating a more favorable investment environment for technology stocks.
Record-Breaking Surge Reshapes Market Landscape
The Hang Seng TECH Index is about to achieve its eighth consecutive week of gains, which will set a record for the longest consecutive weekly gains since its inception. The 44% cumulative rise this year indicates strong recovery momentum for Chinese technology stocks.
The significant improvement in investor sentiment suggests that confidence in the competitiveness of Chinese technology companies in the AI era has been reestablished
