SHANGHAI/HONG KONG -- Hong Kong shares hit their highest in three years on Friday as better-than-expected earnings by e-commerce conglomerate Alibaba Group Holding stoked a rally that has been driven by hopes of a homegrown artificial intelligence boom.
The Hang Seng Index closed 3.99% higher at 23,477.92, marking its biggest one-day gain since early October. The benchmark is up 17% since the start of the year.
