Hong Kong-listed tech stocks rebounded, with JD.com (09618.HK), Baidu (09888.HK), and Tencent Holdings (00700.HK) all rising over 2%. Alibaba (09988.HK), Meituan (03690.HK), Kuaishou (01024.HK), and Xiaomi Group (01810.HK) also followed suit. Fang Jincong, Head of China Internet Research at UBS, stated that in the next two to three years, as the bottleneck in AI computing power supply gradually eases, pricing power in the industry is expected to shift from upstream segments such as chips and infrastructure to internet platforms.
