Alibaba, Tencent and other Chinese technology stocks surged Friday, lifting Hong Kong's Hang Seng Index to a near-three-year high. In the U.S. the Kraneshares CSI China Internet ETF, or KWEB, advanced.

A gauge of Chinese technology shares traded in Hong Kong jumped more than 5% on Friday, as a slew of upbeat earnings boosted optimism toward the sector.

Chinese tech stocks listed in Hong Kong advanced on Friday for their best weekly winning streak since 2020, as earnings surprises and optimism about the artificial intelligence sector drew global investors rotating funds into the sector.

China’s tech stocks rallied on Friday, as sentiment was helped by robust earnings reports from several companies and growing optimism for artificial intelligence-driven technologies. The Hang Seng Tech Index,

Upbeat earnings by big tech companies have added to a recent rally driven by Xi Jinping’s meeting with top corporate executives and the AI hype around DeepSeek.