China, Hong Kong stocks rise as DeepSeek AI optimism lifts tech sector
Thursday, February 06, 2025       12:02 WIB

Feb 6, 202511:52GMT+7
(Reuters) - China and Hong Kong stocks advanced on Thursday, driven by the tech sector, as investors continued to bet on domestic artificial intelligence firms following Chinese AI start-up DeepSeek's breakthrough.
** At the midday break, China's blue-chip CSI300 indexwas up 0.69%, and the Shanghai Composite indexrose 0.76% to 3,254.12 points.
** The Hang Seng Indexin Hong Kong was trading 0.29 higher at 20,655.94.
** AI-related sectors led gains in both onshore and offshore markets. The CSI Semiconductor Industry Index (.CSI931865) surged 4.3% to a five-week high, and the Hang Seng Tech Indexclimbed 1% to the highest level since last October.
** Shares of chipmaker Naurasurged 7.7%, their biggest single-day advance in nearly three months, while SMIC 's Hong Kong-listed sharesrallied nearly 6% to a record high.
** Enthusiasm for domestic AI-related firms showed no signs of abating after DeepSeek disrupted the global industry last month with advanced models at low cost.
** "DeepSeek's breakthrough is driving a renewed confidence in China's AI sector and it will continue to be a key market theme," analysts at China Securities said in a note.
** It's challenging the prevailing notion that China lags several years behind U.S. competitors in the AI race, and the sector could chart its own course in a revaluation despite global volatility, they added.
** Around the region, MSCI 's Asia ex-Japan stock index (.MIAPJ0000PUS) was firmer by 0.25% while Japan's Nikkei indexwas up 0.43%.

Sumber : Reuters