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.

Xiaomi Corp (HK:1810) briefly soared to an all-time high of HK$58.70 in Hong Kong trading on Thursday before reversing sharply, dropping 8.4% to HK$51.60. The decline came amid heavy profit-taking and a broader

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

The Xiaomi SU7 Ultra comes with 1,526 horsepower and costs $72,750. The brand wants to sell 10,000 units of the SU7 Ultra in 2025. Recently, the SU7 Ultra beat a Porsche Taycan Turbo GT around the Shanghai International Circuit by about 1.

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)

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,

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.

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

BYD, the Chinese electric vehicle juggernaut headed by billionaire Wang Chuanfu, intends to raise HK$43.5 billion ($5.6 billion) to deal with fierce competition at home and to expand abroad.

China's mainland investors have played an unprecedented role in a rally on Hong Kong's equity market that has pushed the benchmark index to its highest level since 2022. Mainland investors typically buy or sell Hong Kong-listed shares via the southbound link of the Stock Connect scheme.

Chinese bubble tea giant Mixue’s shares surged 40 per cent on their debut on Monday as Hong Kong’s biggest listing of the year to date highlighted investor focus on mainland China’s price-conscious consumers.

Traders rotate out of stocks and into bonds on worries about entrenched inflation in the US and the Trump administration’s tariffs.