Hong Kong-listed Chinese stocks surged on July 8, 2026, after reports that Chinese AI model makers are developing their own chips, sending the Hang Seng China Enterprises Index up as much as 3.6% for its biggest gain in 14 months since May 2025. A technology sub-index rose as much as 4.8%, with Alibaba jumping 11%, Tencent gaining more than 3%, and contract chipmaker SMIC among the top performers. Investors also rotated capital into less-crowded segments of the market, adding to the advance.
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