On February 13, Hong Kong tech stocks continued to rise strongly. Shares of Kuaishou soared over 12%, Baidu surged more than 9%, Meituan climbed over 5%, Alibaba gained nearly 5%, and Tencent Holdings rose nearly 2%.
The rise of Chinese AI startup DeepSeek has sparked interest in services and applications that may benefit from advancements in China's large language models, driving up shares of undervalued tech companies.
Invesco investment officer Raymond Ma wrote: "Following breakthroughs in artificial intelligence, opportunities for re-rating will emerge as the market reassesses China's innovation capabilities and corporate profit growth." "There are compelling reasons for potential revaluation, especially for Chinese A-shares listed in Hong Kong, as their valuations are significantly more attractive."