Hong Kong stocks closed higher on Friday, led by AI and semiconductor names, with the Hang Seng Index rising 146 points, or 0.6%, to 24,750 on turnover of approximately HK$266.5 billion, and the Hang Seng Tech Index surging 2.2% to 4,405. The China Enterprises Index advanced 0.61% to 8,225. MINIMAX-W soared nearly 19%, Zhipu gained more than 5%, XtalPi Holdings surged over 16%, and Insilico Medicine jumped more than 13%. Lenovo Group surged 9.5% to a fresh stage high, the best-performing Hang Seng Index constituent. Axera Semiconductor rose over 16%, GigaDevice and HG Semiconductor climbed more than 9%, and Hua Hong Semiconductor and SMIC both advanced over 4%. Alibaba rose nearly 4%, while Tencent declined almost 2% and Baidu edged lower. HSBC Holdings gained more than 1%, China Life Insurance climbed nearly 3%, and Sunac China surged over 9%. For the week, the Hang Seng Index fell 0.2%, while the Hang Seng Tech Index gained nearly 2%. CITIC Securities expects tech-sector trading to revolve around AI progress and earnings visibility, while flagging risks from a slowing macro economy and U.S.-China tensions.