TechFlow news, February 7 — According to Bloomberg, the Hang Seng Tech Index rose as much as 1.1% during Friday’s trading session, bringing its cumulative gain from the closing low on January 13 past 20%, entering a technical bull market. At 9:51 a.m. local time, the index was up 1%, with Xiaomi Group contributing the most, rising 4.1%.
Morgan Stanley strategists Laura Wang and Chloe Liu noted that despite ongoing geopolitical risks, market sentiment has improved, driven by strong momentum in China's AI theme and rising trading volumes. Year-to-date, Semiconductor Manufacturing International Corporation (981 HK) has surged approximately 50%, BYD (285 HK) has risen 31%, and Alibaba (9988 HK) is up 20%.
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