Chinese tech stocks rally Friday as STAR50 and CHINEXT jump
Business
Chinese tech stocks had a strong Friday, with the STAR50 index up 6% and CHINEXT Composite rising nearly 5%.
The rally came as worries about global AI sell-offs faded and hopes grew around Beijing's push for tech innovation.
Still, overall markets are set for a tough July, weighed down by bigger economic issues.
Shanghai Composite and CSI 300 down
Shanghai Composite and CSI 300 indexes also saw small gains, but both are still down sharply this month, with the CSI 300 on course for its weakest monthly showing since October 2022.
Even as China's leaders promised more support for high-tech industries on July 30, weak factory activity hints that the economy isn't out of the woods yet.