China stocks diverge as Xi's business outreach fuels tech surge

Hong Kong shares gain but mainland indexes fall after high-profile meeting

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A screen shows news footage of Chinese President Xi Jinping shaking hands with DeepSeek founder Liang Wenfeng during a symposium on private enterprises in Beijing on Feb. 17. © Reuters

WATARU SUZUKI and ECHO WONG

SHANGHAI/HONG KONG -- Investors pumped more capital into Chinese tech stocks on Tuesday, boosting the Hong Kong market where many of the top companies are listed while sending benchmark mainland indexes lower.

Hong Kong's Hang Seng Index rose 1.6%, hitting a fresh four-month high. Gaming and social media company Tencent Holdings climbed 2% while e-commerce conglomerate Alibaba Group Holding gained 3% and electronics maker Xiaomi jumped 7%.

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