Today’s Stock Market Insights: Asian Stocks Surge as Chinese Tech Firms Rally

HONG KONG — Asian stock markets were mostly up on Friday, driven by a strong performance in U.S. stocks. Investors seemed unfazed by President Donald Trump’s recent tariff threats.

In Hong Kong, the Hang Seng index soared by 3.69%, reaching 22,620.33. The Shanghai Composite rose 0.43% to 3,346.72. The Nikkei 225 in Japan fell by 0.79% to 39,149.43. In Australia, the S&P/ASX 200 gained 0.19% to 8,555.80, while South Korea’s KOSPI increased by 0.31% to 2,591.05.

Yeap Jun Rong, a market strategist at IG, noted that the positive vibes from Wall Street, a weaker U.S. dollar, and lower Treasury yields helped lift market sentiment in the region. However, he pointed out that the strength of the yen may have put pressure on Japan’s Nikkei.

In Hong Kong, tech stocks had a great day. Tencent and Xiaomi shares surged by 7%, while Alibaba and Meituan stocks climbed over 6%. This renewed interest in Chinese tech is partly due to a new AI model from DeepSeek, a Chinese company that is shaking up the market.

Beijing’s focus on AI as a national goal is attracting investors. Stephen Innes from SPI Asset Management believes this could mark a pivotal change, suggesting the Hang Seng Index might break out of its long slump.

In Europe, trading started mostly lower after recent highs linked to hopes for a peace deal in Ukraine. France’s CAC 40 rose slightly by 0.3%, while Germany’s DAX dipped 0.13%, and Britain’s FTSE 100 fell by 0.25%.

U.S. stocks also had a good run on Thursday, with the S&P 500 climbing 1% and coming close to an all-time high. The Dow Jones jumped 342 points, and the Nasdaq rose 1.5%. These gains followed news that new tariffs would take time to take effect.

In energy, U.S. crude oil prices rose by 15 cents to $71.44 a barrel. International Brent crude increased by 38 cents, reaching $75.40.

In the currency market, the U.S. dollar weakened against the yen, trading at 152.58 yen compared to 152.82 the previous day. The euro was also slightly stronger, at $1.0481.

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AP Business Writer Stan Choe in New York contributed.