Asian stocks rallied on Friday following a near-record surge in U.S. stocks, despite U.S. President Donald Trump’s latest tariff threats. The Hang Seng index in Hong Kong soared 3.69%, the Shanghai Composite was up 0.43%, and Australian and South Korean markets also showed gains. However, Japan’s Nikkei lagged due to a stronger yen.
Chinese technology stocks listed on the Hong Kong stock exchange saw significant gains, driven by positive developments in the AI sector. Chinese companies like Tencent, Xiaomi, Alibaba, and Meituan all saw their stock prices rise. Chinese firms have been attracting renewed interest as Beijing prioritizes AI development, with companies like Alibaba and Baidu launching new AI models and services.
European markets were down after hitting record highs earlier in the week, following news of potential peace talks in Ukraine. In the U.S., the S&P 500 and Nasdaq climbed, fueled by optimism over delayed tariff implementation.
In energy trading, U.S. crude and Brent crude prices rose, while the U.S. dollar weakened against the Japanese yen and the euro.
Investors are optimistic about the future of Chinese tech and innovation, expecting a shift in global appetite for Chinese equities. The positive momentum in the markets signals a potential breakthrough for the Hang Seng Index and strengthens confidence in the region’s economic prospects.
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