Chinese tech stocks listed in Hong Kong advanced on Friday for their best weekly winning streak since 2020, as earnings surprises and optimism about the artificial intelligence sector drew global investors rotating funds into the sector.

Chinese technology shares jumped on Friday, as a slew of upbeat earnings boosted sentiment and optimism over artificial intelligence continued to attract investors.

Tech investors have been riding high in recent years, as surging technology stocks have propelled a powerful market rally. But after two years

The company increased its R&D investment by 14% to $621 million and just reported Q3 FY24/25 results with revenue growing 20% year-over-year to $18.8 billion and net income more than doubling to $693 million. On top of that, it received a non-recurring income tax credit of $282 million in Q3.