Asian Markets Rally on Friday as China’s A-Shares and Hong Kong Tech Surge

Asian markets saw strong performances on Friday, with China’s A-shares surging as total turnover exceeded CNY 2 trillion for the first time in two months. Chip stocks rallied, and the computing power sector saw broad gains, with major telecom operators also rising.

Hong Kong's Hang Seng Index jumped 4.0% to 23,477.92, a three-year high, fueled by Alibaba’s 13% surge and Lenovo’s 15% gain following earnings. The Hang Seng Tech Index also climbed 6.5% to its highest level in three years. Analysts pointed to Alibaba’s strong earnings and Apple partnership as key growth drivers, with Tencent and Alibaba expected to lead in the AI sector.

In Japan, the Nikkei 225 closed up 0.26%, while the Topix edged 0.07% higher. DeNA soared nearly 14%, Nissan gained over 9%, and Chugai Pharmaceutical rose more than 4%. Meanwhile, IHI Corporation fell almost 4%, with Hitachi and Mitsubishi Heavy Industries losing close to 3%.

South Korea’s Kospi ended nearly flat at 2,655, as gains in battery, auto, and steel stocks offset losses in chipmakers. Investor sentiment improved amid U.S.-South Korea trade discussions, while expectations of a 25-basis-point rate cut by the Bank of Korea next Tuesday helped limit losses.

As of reporting, Singapore’s STI Index was up 0.13% at 3,932.51, while Malaysia’s FTSE Bursa Malaysia KLCI had gained 0.56% to 1,586.48.