• 2 months ago
Chinese tech stocks surged this week, with the Hang Seng Tech Index closing nearly 6% higher. Alibaba hit $100 per share in the U.S. for the first time since last year, and its Hong Kong stock reached its highest since February 2023. Tencent's stock rose nearly 2%, marking its highest close in over two-and-a-half years. The rally followed the People’s Bank of China’s announcement of economic support measures, including mortgage rate cuts and property market aid.

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00:00It's Benzinga, and here's what's on the block.
00:02Chinese tech stocks surged this week, with the Hang Seng Tech Index closing nearly 6%
00:07higher.
00:08Alibaba hit $100 per share in the US for the first time since last year, and its Hong Kong
00:13stock reached its highest since February 2023.
00:16Tencent's stock rose nearly 2%, marking its highest close in over two and a half years.
00:22The rally followed by the People's Bank of China's announcement of economic support
00:25measures, including mortgage rate cuts and property market aid.
00:29For all things money, visit Benzinga.com.

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