Hang Seng Soars 4.5% This Week
The Hang Seng climbed 242 points or 1.2% to end at 21,133 on Friday, extending gains from the prior session and reaching its highest in three months, boosted by interest in China's internet firms due to a more competitive AI model from DeepSeek.
The index surged 4.5% for the week, marking its fourth straight gain and a 20% rise from its January low, thus entering a bull market. This upturn was driven by optimism over potential easing of a trade row between Beijing and Washington, along with hopes of further measures by China to boost market confidence ahead of the National People's Congress in early March.
Gains were capped by caution ahead of key US job reports. Meantime, Chinese CPI and PPI data for January will be due next week, amid deflation risks. Lenovo surged 6.1%, hitting its highest in near a decade, as it explored ties with DeepSeek. Other top-performing stocks included Smoore Intl. Hlds. (10%), Li Auto (7.2%), Xiaomi Corp. (4.7%), Haidilo Intl. (3.3%), and Meituan (1.8%).
Source : Trading Economics
