• Like
  • Comment
  • Favorite

DeepSeek Fuels Bullish Mood on China Tech Stocks -- WSJ

Dow Jones2025-02-12

By Peter Landers

The sudden emergence of Chinese artificial-intelligence developer DeepSeek hit U.S. technology stocks two weeks ago, but closer to home, the company is fueling investors' optimism.

Hong Kong's Hang Seng Index closed 2.6% higher Wednesday led by tech stocks including Alibaba. Here's what has happened recently:

-- The Hang Seng benchmark has risen 16% since Jan. 13, 2025's low point.

-- Raymond Ma, Invesco's chief investment officer for China and Hong Kong, has said DeepSeek's latest R1 AI model was likely to lift e-commerce, AI smartphones and other products.

-- Ma said Chinese stocks were undervalued relative to the U.S. and "there is a strong case" for a reassessment.

-- Alibaba shares jumped 8.5% Wednesday on a potential partnership with Apple to provide AI services to Chinese iPhone users. The e-commerce company is a leading AI developer in the country.

-- Battery maker Contemporary Amperex Technology has applied for a secondary listing in Hong Kong that could be among the financial hub's biggest in years. CATL is already listed in Shenzhen. The listing revived hopes for Hong Kong's initial public offering market, which has been moribund until recently.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

February 12, 2025 06:20 ET (11:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

empty
No comments yet
 
 
 
 

Most Discussed

 
 
 
 
 

7x24