Chinese tech stocks climbed Thursday, with a key index hitting a near four-year high as AI-fueled buying and a regulatory ban on an Nvidia Corp. chip boosted prospects for domestic rivals.
The Hang Seng Tech Index rose as much as 2% on Thursday, building on Wednesday’s 4.2% rally that marked its highest close since November 2021. Gains followed a Chinese regulator’s order to halt imports for Nvidia’s RTX Pro 6000D, seen as a boost for domestic chipmakers.