Hong Kong's Hang Seng Index closed slightly higher on Friday amid the volatility of some high-tech companies, said Timothy Pope, a market analyst.
Hong Kong's stock market ended mixed Friday with the benchmark Hang Seng Index up 0.10 percent to close at 25,884.43 points.
The Hang Seng China Enterprises Index declined 0.38 percent to end at 8,612.15 points, and the Hang Seng Tech Index increased by 0.53 percent to end at 4,829.22 points.
"The Hang Seng ended just slightly higher, while the Hang Seng Tech Index rose half of one percent - participating in the rally but at the back of the field. Optical-transceiver maker Zhongji Innolight might want to just pretend its first day of trade never happened. Its market debut yesterday fell 2 percent below its listing price, even though that listing was in very high demand. But today was completely different, the stock was up more than 20 percent at the intraday high - although it closed only 7.1 percent higher," Pope said.
"The other big mover of the day was Xiaomi - maker of smartphones, EVs and just about everything else you can think of on the consumer side. It was down 7.3 percent following the launch of two new EVs last night. This seems to be less a market reaction to the cars themselves, than profit taking after a big pre-launch rally," he said.
Hong Kong stocks rise slightly amid volatile tech performances: analyst
Chinese stocks closed higher on Friday, due to stimulation from the newly-released US technology earnings, said China Global Television Network (CGTN) analyst Timothy Pope.
The benchmark Shanghai Composite Index up 0.72 percent to 3,832.26 points.
The Shenzhen Component Index closed 2.21 percent higher at 13,578.93 points.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.06 percent to close at 3,343.96 points.
"The latest U.S. technology earnings have made Chinese AI stocks whipsaw over the past couple of sessions. Before we get into that, as far as the dust is settling, the Shanghai Composite added 0.7 percent today, the Shenzhen Component rose 2.2 percent and the ChiNext gained 3 percent. And those numbers just screamed technology rebound," Pope said.
"Yesterday's sell-off was absolutely brutal after we saw the results from Meta and other U.S. technology companies reviving concerns about the hyperscalers' enormous AI spending. The worry is that they may be investing too much, too quickly, without generating returns fast enough to justify that. That punished both ends of the market: it hit the U.S. technology giants because of the scale of their spending, and it hit their suppliers in China because it cast doubt on future demand. But then we got results from Azure -- Microsoft's cloud-computing division -- and the market grabbed at those like a lifebelt. Azure's revenue grew faster than expected, demand is still exceeding Microsoft's available computing capacity, and the company says its spending will continue. That is fantastic news for Chinese optical-transceiver companies, data equipment makers, semiconductor firms and memory-chip producers-basically the entire AI supply chain. And it is those shares currently underpinning gains on the Chinese mainland market," he said.
Chinese stock markets close higher amid US tech earning stimulation: analyst
