Asian Stocks Surge as Xi Meeting Boosts Tech Optimism

Asian stock markets saw gains, particularly in Hong Kong, following a meeting between Chinese President Xi Jinping and top business leaders which raised hopes for renewed support for the private sector. The Hang Seng Index rose significantly, bolstered by a rally in technology shares, particularly from Alibaba and Xiaomi, which have expressed optimism about the end of the government's crackdown on the tech industry. President Xi's meeting was interpreted as a strong signal of support for the tech sector, with plans to remove obstacles to commerce and promote fair competition. Analysts noted that while this marks a positive rebound, a sustainable growth model is necessary for a long-term bull market. Additionally, Japan's economy showed strong growth, contributing to overall regional market optimism. Despite these positive developments, concerns about global trade tensions and U.S. tariffs linger in the background.