Chinese technology stocks advanced sharply on Friday, with Alibaba Group Holding Ltd. jumping 11.41% in Hong Kong trading, as investors responded to positive earnings guidance and anticipated monetary policy easing from Beijing.

Mainland China and Hong Kong stocks ended a choppy week lower after a strong performance run since the start of the year.

The Chinese company's shares rose 5.9% to 47.80 Hong Kong dollars, equivalent to around US$6.14, as of midday Tuesday, taking year-to-date gains to 39%. The shares touched HK$48.15, a new intraday high,

At Beijing’s Haidian District Economic and Social High-Quality Development Conference yesterday, Xiaomi CEO Lei Jun highlighted the critical role of both

Xiaomi founder Lei Jun introduces the SU7 Ultra during a launch event held in Beijing, China, Thursday, Feb. 27, 2025. (AP Photo/Ng Han Guan)

Xiaomi SU7 Ultra challenges Shanghai International Circuit with a lap time of 2:9.994. Pre-orders for the sedan opened in October, with a starting price of CNY 814,900 (approximately $111,000).

Some of China's prominent business leaders, including the heads of carmakers BYD and Xiaomi , said they would resist external pressure and keep innovating, following a rare meeting between President Xi Jinping and the private sector.

Early European trading was mostly down, with France’s CAC 40 down 0.18%, while Germany’s DAX dipped 0.26%. Britain’s FTSE 100 remained mostly unchanged. Hong Kong's Hang Seng rose 1.59% to 22,976.81,

Ren Zhengfei from Huawei, Lei Jun from Xiaomi and Wang Xinxing from Unitree all gave speeches at the high-profile meeting.

Xiaomi is launching its 212W HyperCharge Power Bank 25000 globally, following its Chinese crowdfunding success. The power bank is currently available in Japan and Hong Kong, with wider distribution planned.

President Xi Jinping presided over a meeting with Alibaba co-founder Jack Ma and other Chinese business leaders, signaling his support for private companies after years of turmoil. The gathering included the heads of Xiaomi and Meituan,