By Summer Zhen and Jiaxing Li
Hong Kong (Reuters) – The apparent breakthrough of China in AI and rapprochement with technology giants sent actions to Hong Kong and Internet giants, but buyers behind him are flying and that brokers say that global investors have come from big bets while the markets are swinging.
Hang of Hong Kong (^ Hsi)) is in the process of returning from a series of buttons to face the German Dax as the most efficient market in the world for the year so far, with 13% and 13.1% gains respectively, against an increase of 4% for the S&P 500 (^ GSPC).
The actions of Hong Kong Tech have jumped 31% since mid-January to reach three-year heights on Monday, while President Xi Jinping sat with the best technological leaders in Beijing.
The prices giring while investors have traveled images and images of Reunion for the faces of the main bosses have carefully highlighted feverish speculation and the degree of hope behind the rally.
Trading has also illustrated what has become an adage to invest in China in recent years, that the greatest price is up to the first movers, especially if they can go out as soon as the euphoria begins to fade.
“As for the moves in the past two years approximately in HK / China, it is very focused on retail (and volatile) – a commercial market,” said Wong Kok Hoong, responsible for negotiations on sales of actions in Maybank.
“Hell funds or funds focused on Hong Kong-China are well aware of the dangers of not rushing from the start.”
Broker data seem to show that it is exactly that buys.
CICC estimates that cumulative flows in southern direction – that is to say the purchase by continental investors – have reached 26.6 billion HK dollars ($ 3.4 billion) since the lunar holidays ‘Year at the beginning of February, tied with a record rush in September.
A note by Morgan Stanley on the positioning of hedge funds showed net exhibitions near their highest in one year, with buyers mainly in Asia and taking long positions, rather than covering short bets.
“Hot money stimulates the market in the past two weeks,” said Steven Leung, who takes care of the institutional customers of the Uob Kayhian brokerage in Hong Kong, referring to the funds controlled by investors looking for yields to short term.
Rally triggers include the sudden popularity of the Chinese AI startup Deepseek, which has developed a much cheaper AI model than American rivals, the relief that China has not been struck by large American sanctions And the view of Xi meeting technology chiefs.
Actions in Alibaba (Baba,, 9988.hk) titled the rally on the news of an AI partnership with Apple (Aapl) In addition to the appearance of the founder Jack Ma, which has kept a low profile over the years of repression against the giants of Chinese technology, at the symposium of this week with Xi Jinping.
