Chinese stock bulls add to record buying spree in Hong Kong as DeepSeek fuels rally

Quick Summary:

The Hang Seng Tech Index has risen more than 20 per cent from its January low, fitting the definition of a technical bull market.

The Hang Seng Index is now valued at 10.2 times estimated earnings, up from as low as 8 times in late 2023, making it the second-cheapest major market globally, according to Bloomberg data.

Sentiment turned bullish last month after DeepSeek launched its cheaper AI chatbot, which outperformed OpenAI’s ChatGPT.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong Kong

Topics: Market Link Billion Drive Hong Stock Funds Valuation According Stocks Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 07:30:09 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 235 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26093903

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