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Home»Finance»Asian stocks mostly up, as Chinese technology firms see stock rally
Finance

Asian stocks mostly up, as Chinese technology firms see stock rally

February 14, 2025No Comments3 Mins Read
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Asian stocks mostly up, as Chinese technology firms see stock rally
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HONG KONG (AP) — Asian shares had been largely up Friday on the again of a near-record rally on U.S. shares, as traders paid little consideration to U.S. President Donald Trump’s newest tariff threats.

Hong Kong’s Grasp Seng index surged 3.69% to 22,620.33, whereas the Shanghai Composite was up 0.43% to three,346.72. The Nikkei 225 slid 0.79% to 39,149.43. In the meantime, the S&P/ASX 200 in Australia was up 0.19% to eight,555.80 and South Korea’s KOSPI was up 0.31% to 2,591.05.

“There are a lot tailwinds for danger sentiments within the area to faucet on, with the constructive handover in Wall Road, weaker US greenback and decrease Treasury yields,” Yeap Jun Rong, a market strategist at IG, wrote in a word.

“Nevertheless, Japan’s Nikkei lagged, seemingly pressured by a stronger yen,” he mentioned.

Chinese language know-how shares listed on the Hong Kong inventory trade all gained on Friday, with shares from video video games agency Tencent and smartphone maker Xiaomi surging 7% whereas e-commerce agency Alibaba and on-line providers agency Meituan gained over 6%.

Chinese language know-how corporations have loved renewed curiosity since Chinese language AI firm DeepSeek launched a man-made intelligence mannequin that rivals these of OpenAI whereas being skilled on cheaper {hardware}. Corporations like Alibaba have in latest weeks additionally launched new iterations of their very own AI fashions, and search engine agency Baidu mentioned Friday that it could make its Ernie Bot AI chatbot accessible without cost to public.

“With Beijing doubling down on AI as a nationwide precedence, traders are speeding to reprice China’s tech and innovation potential. That is not only a stimulus-driven bounce — it’s a paradigm shift,” mentioned Stephen Innes, managing associate at SPI Asset Administration.

“If momentum holds, the Grasp Seng Index may lastly escape of its multi-year droop, reigniting world urge for food for Chinese language equities.”

Early European buying and selling Friday was largely down after hitting document highs earlier this week as hopes rose for a Ukraine peace deal. France’s CAC 40 was up 0.3%, whereas Germany’s DAX dipped 0.13%. Britain’s FTSE 100 was down 0.25%.

On Thursday, the S&P 500 climbed 1% to drag inside 0.1% of its all-time excessive set final month. The Dow Jones Industrial Common gained 342 factors, or 0.8%, and the Nasdaq composite jumped 1.5%.

U.S. shares rose after officers in Washington mentioned reciprocal tariffs would take time to implement.

In power buying and selling, benchmark U.S crude added 15 cents to $71.44 a barrel. Brent crude, the worldwide customary, rose 38 cents to $75.40 a barrel.

In forex buying and selling, the U.S. greenback weakened to 152.58 Japanese yen from 152.82 yen. The euro value $1.0481, up from $1.0466.

___

AP Enterprise Author Stan Choe in New York contributed.

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