Hong Kong stocks surged on Thursday as investors rotated away from hardware and semiconductor shares and toward Chinese internet platforms seen as undervalued. The Hang Seng Index climbed as much as 3.5%, marking its strongest advance since May 2025.
Alibaba Group Holding and Tencent Holdings led the gains. The Hang Seng Tech Index was also on course for a fifth consecutive session of advances, which would be its longest winning streak since July 2025.
Sources: Bloomberg Markets.