Xiaomi’s shares surged nearly 6% on Friday to a record high of HK$43.05, lifting its market capitalization above HK$1 trillion for the first time. The rally was fueled by investor optimism over China’s latest subsidy plans targeting the tech and electric vehicle (EV) sectors.
Key Gainers:
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Lenovo jumped 7%, marking its highest level since 2015.
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EV giant BYD climbed 5% amid expectations of demand support.
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Geely soared 9% as investors bet on rising sales from government incentives.
The subsidy program is aimed at boosting consumer spending, with Xiaomi, Lenovo, and leading green tech & EV firms positioned to benefit directly.
Analysts believe that fiscal support and industrial stimulus will continue to propel momentum in China’s high-growth sectors, particularly in consumer tech and electric mobility.