China's tech companies are finally seeing the light of day in the stock markets after several challenging years. On Friday, Hong Kong's Hang Seng Tech Index closed 5.6% higher. The index is up 24% this year.

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Mainland Chinese funds bought more stocks in Hong Kong this year, contributing to turning the city's key tech index into a technical bull market.

The rise of Chinese AI startup DeepSeek has sparked a hunt for possible service and application beneficiaries from the country’s advancement in large language models, fueling a rally in cheaply-valued tech shares. The index currently trades at 17.4 times forward multiples, still below its five-year average of 24.5 times.

Chinese technology stocks have surged since DeepSeek R1s launch in late January, boosting investor confidence in Chinas AI sector. The AI model, which competes with OpenAIs ChatGPT using older hardware and a lower budget,

Robust gains by Chinese tech stocks have added billions of dollars in their market capitalization, driven by the sudden rise to fame by homegrown AI app DeepSeek.

Investors in America’s biggest company are increasingly focused on China, where Apple Inc. is striving to win over a crucial customer base while also facing tariff-related risks.

Success of DeepSeek's AI model to bolster the appeal of China's tech stocks that trade at depressed valuations, Invesco says Hong Kong stocks rose on Thursday to refresh a four-month high, as a key gauge of Chinese technology stocks entered the bull market territory,