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China tech

SenseTime leads closing surge of China tech stocks

Hang Seng sector index ends year down 48% from February peak

HONG KONG -- Shares of artificial intelligence developer SenseTime Group leaped 33.2% in Hong Kong on Friday, leading a final year-end rally for the beaten-down Chinese technology sector.

Chinese tech stocks have sagged dramatically since February, wiping out more than $1 trillion in market value amid Beijing's regulatory crackdown on anticompetitive practices, cross-border online brokers, online health services, offshore initial public offerings and other areas.

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