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Chinese Tech Stocks Rally on Positive News, Chip Debut Sparks Frenzy

Chinese Tech Stocks Rally on Positive News, Chip Debut Sparks Frenzy

Author:

Global Cryptocurrency

Published:

2026-02-09 13:39:01

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BTCCSquare news:

Chinese tech stocks surged as positive market sentiment and a strong chip debut fueled investor enthusiasm. Bytedance and Montage Technology led gains, with COL Group hitting its 20% daily limit. Shanghai Film and Perfect World each ROSE 10%, while Baidu rallied 9%, Alibaba gained 3.6%, and Xiaomi jumped 8.32%. The CSI 300 Index climbed 1.4%, driven by tech momentum amid weak property data and U.S. bond noise.

Montage Technology's Hong Kong debut saw shares explode, opening at HK$168 versus an offer price of HK$106.89 and closing at HK$175—a 64% gain. The firm raised HK$7.04 billion for AI data center chip research, becoming a top-traded stock. Meanwhile, regulatory easing for private placements added fuel to the rally, as traders pivoted from sluggish bets to high-growth tech.

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