Why Chinese Stocks Alibaba, Futu Holdings, and Tencent Shook Off Inflation Concerns and Are Rising Today
Despite a hotter-than-expected inflation report this morning, Chinese tech stocks shook off the bad news and marched higher. The beaten-down sector continues to advance since the emergence of China's DeepSeek artificial intelligence (AI) chatbot.Shares of the large search and e-commerce company Alibaba (NYSE: BABA) had risen 4.4% as of 11:34 a.m. ET today. Meanwhile, shares of the digital finance company Futu Holdings (NASDAQ: FUTU) had surged 8.4%, and shares of the large tech and videogame company Tencent Holdings (OTC: TCEHY) were up 3.5%.After January's inflation data came in above estimates, most major market indexes sold off as investors further doubted whether the Federal Reserve would be able to cut interest rates more this year with inflation still well above the Fed's preferred 2% target.Continue reading
Despite a hotter-than-expected inflation report this morning, Chinese tech stocks shook off the bad news and marched higher. The beaten-down sector continues to advance since the emergence of China's DeepSeek artificial intelligence (AI) chatbot.
Shares of the large search and e-commerce company Alibaba (NYSE: BABA) had risen 4.4% as of 11:34 a.m. ET today. Meanwhile, shares of the digital finance company Futu Holdings (NASDAQ: FUTU) had surged 8.4%, and shares of the large tech and videogame company Tencent Holdings (OTC: TCEHY) were up 3.5%.
After January's inflation data came in above estimates, most major market indexes sold off as investors further doubted whether the Federal Reserve would be able to cut interest rates more this year with inflation still well above the Fed's preferred 2% target.
