Alibaba Boosts Chinese Stocks – Asia Market Wrap
Chinese technology stocks jumped the most in three years, boosting equities across Asia, after optimism toward the sector got a boost from earnings of Alibaba. The yen weakened back past 150 per dollar.
The gauge of Hong Kong-listed tech shares advanced and a broader gauge of Asian shares gained as Alibaba surged almost 14% on the back of its earnings. The regional index is set for a sixth weekly gain, the longest winning streak in almost a year. The yen slipped after Bank of Japan Governor Ueda signaled a readiness to quell a surge in bond yields.
While investors remain wary about rising geopolitical tensions and a widening tariff war, Alibaba and other Chinese technology shares have climbed in recent weeks on enthusiasm over DeepSeek’s artificial- intelligence model. Global funds piling into the rally have driven a $1.3 trillion gain in Chinese stocks.
