Chinese Stocks in Bull Market; Hang Seng Up 22%, SenseTime Surges 170%
Chinese stocks have entered a technical bull market, with significant gains across various indices and companies. The Hang Seng Index surged by 2.5% to close at 18,207.13, marking a 22% increase since January. This rally includes an 8-day winning streak, the longest since January 2018. Notably, the Hang Seng Tech Index experienced a substantial rise of 4.45%. Major tech companies like Tencent, Alibaba, Meituan, and JD.com saw increases of 3.8%, 2.35%, 8.77%, and 4.88%, respectively. Additionally, AI firm SenseTime reported a dramatic 35% jump and an overall increase of 170% in the last 8 trading days, contributing to its longest winning streak since its listing. Despite the absence of key Chinese investors, Hong Kong's stock market has shown resilience and robust growth.
Sources
Bloomberg Markets
Hong Kong stocks are on their longest winning streak since 2018 https://t.co/SFofA6diuz
CN Wire 🇭🇰Hang Seng Index $HSI opened up 2% and the Tech Index up 4%. Automakers are rising. $XPEV +9%, $LI Auto +6%, Leap Motors, GAC and Geely +3%, #BYD and $NIO +2%. Alibaba $BABA +5%, $JD +6%, #Tecnent +2.3%. #China $KWEB $FXI $HXC
YUAN TALKS #HK stock market rally continues. #HangSeng Index opens 1.85% up, higher for 9th straight trading day. Hang Seng Tech surges over 3% to jump above 4,000 mark. https://t.co/haGgRmRP6L https://t.co/DfXokTQZbe
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