February 07, 2025 at 02:54 am EST
(MT Newswires) -- Chinese shares again rose on Friday, supported by a rally in tech shares, as the success of AI app DeepSeek lifted optimism on China's capacity for innovation.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.0% to 3,303.67. The Shenzhen Component Index went up 1.8% to 10,576.00.
HSBC analysts said the development of DeepSeek attracted the attention of global markets and reaffirmed China's continued ability to innovate, according to Reuters.
China's AI industry is expected to flourish in 2025, driving prosperity investments and a stronger focus on application development, Reuters cited Gao Zhe, portfolio manager at Harfor Fund Management, as saying.
In company news, Hubei Guochuang Hi-tech Material's (SHE:002377) subsidiary, Hubei Guochuang High-tech Materials Technology, will participate in the bidding for land in Echeng District, Ezhou City, China. Shares of the engineering company fell nearly 3% Friday.

Sumber : MT Newswires