Chinese tech stocks surged September 17, with the Hang Seng Tech Index climbing 3.9% to its highest since November 2021.

The rally was led by Baidu, which jumped 19%, while Alibaba, SMIC, and JD.com also posted strong gains.

The index is on track for a seventh straight week of increases, fueled by AI enthusiasm and easing China-US tensions. It is up 41% in 2025, outperforming regional benchmarks.

Alibaba and Tencent have raised billions in recent bond sales to fund AI investments.

Bloomberg Intelligence estimates capex by China’s top internet firms will reach US$32 billion in 2025, up from US$13 billion in 2023.

Investor sentiment was also lifted by local AI chip deployments and progress in US-China talks over TikTok.

🔗 Source: Bloomberg