China Tech Shares Surge as Sales Beats Boost Sentiment
(Bloomberg) — Chinese tech shares jumped on Friday after two of the biggest Internet giants reported sales that topped estimates, easing investor worries about the economic hit from Covid-19 lockdowns.
Hong Kong’s Hang Seng Tech Index gained as much as 4.9%, the most in a week. E-commerce leader Alibaba Group Holding Ltd. and Baidu Inc. were among the top gainers, rallying by at least 13% each.
- MOST POPULAR