The Zhitong Finance App learned that on Friday, the Nasdaq China Golden Dragon Index rose 0.7%, and popular Chinese securities strengthened. Alibaba (BABA.US) rose nearly 5%, New Oriental (EDU.US) rose more than 4%, Baidu (BIDU.US) rose nearly 3%, and JD.US (JD.US) rose more than 1%. Core PCE inflation in the US has cooled down expectations of short-term interest rate hikes. Furthermore, the latest financial reports from Microsoft and Amazon confirm that the heavy investment in AI by leading technology companies has entered the payback cycle. Combined with the end of selling pressure brought about by the liquidation of large AI funds in the early stages, the simultaneous sharp rise in the Japanese and South Korean stock markets has driven sentiment in the Asia-Pacific AI industry chain. Today, the Hong Kong Hang Seng Technology Index rose 0.53%.

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