China, HK stocks gain as DeepSeek continues to lift tech sector
Monday, February 10, 2025       12:17 WIB

Feb 10, 202511:51GMT+7
(Reuters) - Chinese and Hong Kong stocks were broadly higher on Monday as optimism around artificial intelligence startup DeepSeek continued to lift tech stocks, while better-than-expected inflation data buoyed sentiment.
** The Shanghai Composite Indexgained 0.3% to 3,313.75 points by the midday break, adding to the 1.6% advance in the previous week.
** The blue-chip CSI 300 Indexwas little changed after fluctuating between gains and losses.
** In Hong Kong, the Hang Seng Indexjumped 1.4% and the Hang Seng Tech Indexrallied 1.8% to a four-month high.
** AI-related shares led gains on continued optimism around DeepSeek. Chipmaker Cambricon Technologiesjumped 6.2% and AI firm CloudWalk Technologysurged to the 20% daily trading limit, leading gains onshore.
** China's three largest telecom operators - China Mobile, China Unicomand China Telecom- gained 1.2% to 5.9% after saying they were working with DeepSeek's open source model to "promote inclusive application of the latest AI technology".
** "Onshore market could keep this upward momentum until the Two Sessions in March despite the volatility, boosted by the launch of DeepSeek AI which has increased market confidence," analysts at China Securities said in a note.
** Concerns about U.S.-China trade tensions may also ease in the short term as investors increasingly view tariff threats as negotiation tactics, they said.
** Meanwhile, worries about China's deflation eased after data released on Sunday showed consumer inflation accelerated to its fastest in five months in January thanks to the holiday spending.
** Around the region, MSCI 's Asia ex-Japan stock index was weaker by 0.38% while Japan's Nikkei indexwas up 0.05%.

Sumber : Reuters