By the summer zhen and jiaxing li
Hongong (Reuters) – The apparent breakthrough of China in AI and rapprochement with Tech Giants sent Hong Kong shares and internet giants rising, but buyers are flying and brokers say
Hong Kong's Hang Seng (^Hsi) He yelled back from lean years and competed with German Dax as the best powerful market in the world, with 13% and 13.1% profits, against 4% increase for the S&P 500 (^GSPC).
Hong Kong Tech shares increased 31%since mid -January to reach three -year -olds on Monday, while President Xi Jinping sat down with the best technological leaders in Beijing.
The prizes, as investors explored the pictures and shots of meetings on the faces of the top bosses neatly underlined feverish speculation and the degree of hope for the rally.
Trading has also illustrated what has become the adage of investment in China in recent years, that the biggest price is one of the earliest tractors, especially if they can get out as soon as euphoria starts to disappear.
“As with movements over the last two years in HK/China, it is a very retail (and volatile) – trade market,” said Wong Kok Hoong, Head of Maybank's property.
“Hedge funds or more Hong Kong Chinese funds are well aware of the dangers of not rushing from the beginning.”
It seems that data from brokers show that exactly who buys.
CICC estimates that the cumulative southern flows – ie the purchase of mainland investors – achieved 26.6 billion HK ($ 3.4 billion) from a record rush in September at the beginning of February.
Morgan Stanley's Note on the location of the Hedge Fund showed clean exposures near their highest in a year, with buyers mostly in Asia and stood long positions rather than cover short bets.
“Hot Money has been driving the market over the last two weeks,” said Steven Leung, who processes institutional clients in Uob Kayhian in Hong Kong, referring to resources controlled by investors looking for short -term returns.
Rally triggers include the sudden popularity of the Chinese startup AI Deepseek, which developed the AI much cheaper than American rivals, relief that China was not affected by large American sanctions and a view of XI meetings with technological leaders.
Shares in alibaba (Grandma, 9988.Hk(Aapl) Together with the appearance of the founder Jack Ma, who over the years of interventions on Chinese technology gigans maintained a low profile on the symposium this week with Xi Jinping.
