Alibaba, Tencent and other Chinese technology stocks surged Friday, lifting Hong Kong's Hang Seng Index to a near-three-year high. In the U.S. the Kraneshares CSI China Internet ETF, or KWEB, advanced.

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

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.

China’s tech stocks rallied on Friday, as sentiment was helped by robust earnings reports from several companies and growing optimism for artificial intelligence-driven technologies. The Hang Seng Tech Index,