China’s tech rally rests on ‘hot money’

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China’s apparent breakthrough in AI and rapprochement with tech giants has sent Hong Kong stocks and internet giants soaring, but the buyers behind it are flighty and brokers say global investors are wary of big bets while markets swing wildly. Hong Kong’s Hang Seng has roared back from a run of lean years to vie with Germany’s DAX as the world’s best-performing market for the year so far, with gains of 13% and 13.1% respectively, against a 4% rise for the S&P500.

Hong Kong tech shares have surged 31% since the middle of January to hit three-year…



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China’s tech rally rests on ‘hot money’


China’s apparent breakthrough in AI and rapprochement with tech giants has sent Hong Kong stocks and internet giants soaring, but the buyers behind it are flighty and brokers say global investors are wary of big bets while markets swing wildly. Hong Kong’s Hang Seng has roared back from a run of lean years to vie with Germany’s DAX as the world’s best-performing market for the year so far, with gains of 13% and 13.1% respectively, against a 4% rise for the S&P500.

Hong Kong tech shares have surged 31% since the middle of January to hit three-year…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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