Market Performance - The Shanghai Composite index increased by 0.83% to close at 3,853.64 points, while the blue-chip CSI300 index rose by 1.02% [6] - The STAR50 index, focused on tech shares, jumped by 3.49%, and the CSI Info Tech sub-index bounced by 2.88% [6] - The CSI all share semiconductor sub-index rose by 4.68% [6] - In Hong Kong, the Hang Seng index gained 1.37%, and the Hang Seng Tech index increased by 2.53% [4] Company Developments - Alibaba announced plans to open its first data centers in Brazil, France, and the Netherlands, aiming to accelerate its global strategy for artificial intelligence [2] - Following this announcement, Alibaba's Hong Kong-listed shares rose by 9.16%, reaching the highest level since 2021 [2] Trade Relations - China will not seek benefits from its developing country status at the World Trade Organization, which may ease tensions with the U.S. [5] - Analysts noted that this move could signify an improvement in U.S.-China relations [5] Investment Trends - The Shanghai benchmark is trading near a 10-year peak, attracting investors from conservative assets to equities [6] - This shift indicates a movement of household wealth from deposits and wealth management products into the equity market [6]
China and Hong Kong stocks rebound, lifted by gains in tech shares
The Economic Times·2025-09-24 09:24