AI, chip shares drive Hong Kong stocks to four-month high

Hong Kong stocks closed at 21,133 points, hitting a nearly four-month high, boosted by artificial intelligence and chip shares.

The benchmark Hang Seng Index once climbed as high as 21,213 points before gains narrowed, ultimately closing 1.16 percent or 241 points higher, with a turnover of HK$246.4 billion.

The Hang Seng Tech Index went up by 1.8 percent to 5,150 points.

Kingdee International Software (0268) gained 14.84 percent to HK$12.38 after it announced that it has fully integrated Chinese AI phenomenon DeepSeek into its Kingdee Cloud SaaS applications, with an aim to offer more affordable and effective solutions.

Black Sesame International (2533) once rose over 55 percent to HK$43.85 before closing at HK$38.80, amid rumors that its chips had been adopted by BYD (1211).

A Chinese media outlet under Shanghai United Media Group reported that BYD is using Black Sesame’s automotive-grade self-driving computing chips for its Denza models.

BYD rose 4.5 percent to HK$330.

In China, the Shanghai Stock Exchange Index gained 1.01 percent to 3,303 points, while the Shenzhen Component Index recorded 10,576 points, up 1.75 percent.

STAFF REPORTER