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Hong Kong internet and tech shares rebounded; JD.com (09618.HK), Baidu (09888.HK) and Tencent Holdings (00700.HK) rose more than 2%, while Alibaba (09988.HK), Meituan (03690.HK), Kuaishou (01024.HK) and Xiaomi Group (01810.HK) also gained. UBS China

2026-09-04

Hong Kong internet and tech shares rebounded; JD.com (09618.HK), Baidu (09888.HK) and Tencent Holdings (00700.HK) rose more than 2%, while Alibaba (09988.HK), Meituan (03690.HK), Kuaishou (01024.HK) and Xiaomi Group (01810.HK) also gained. UBS China internet research head Fang Jincong said over the next two to three years, as AI compute supply bottlenecks ease, pricing power is likely to shift from upstream chip and infrastructure suppliers to internet platforms.

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