China's Stocks Rebound Amid Tech Optimism and Market Surges

China's stock market saw an uplift on Friday, ending a three-day downturn with optimism stemming from domestic chipmakers. Key indices in Shanghai and Hong Kong recorded gains, buoyed by tech giant Moore Threads' debut and supportive measures for insurers. Meanwhile, real estate continued to slide amid falling home prices.

China's stock market gained traction on Friday, as positive sentiment towards domestic chipmakers sparked a rebound, ending a three-day losing streak. The Shanghai Composite Index rose 0.7%, while the CSI 300 Index climbed 0.8%, marking a positive shift in the week's trading.

Hong Kong's Hang Seng Index also saw an uptick of 0.6%, driven by tech sector gains. This rise was further fueled by Moore Threads' sensational debut, reminiscent of Nvidia's trajectory, amid a geopolitical climate pushing for localized chip production.

The insurance sector's drastic rally, bolstered by regulatory updates, provided additional market support, offsetting the continuing decline in real estate. Analysts foresee these tech advancements and regulatory developments as key market drivers over the coming months.

(With inputs from agencies.)