Xi-Jack Ma chat seen as next catalyst for blistering China rally

A potential encounter this week between Chinese President Xi Jinping and e-commerce icon Jack Ma, coming after a blistering run by tech shares, could be the next catalyst to extend the rally in China's stocks. Prominent entrepreneurs including Ma have been invited to meet the nation's top leaders, people familiar with the matter said last week. The potential show of support for the private sector coincides with the recent surge in equities in Hong Kong, driven by growing capabilities in artificial intelligence. The Hang Seng China Enterprises Index jumped 4.1% on Friday to its highest since February 2022, exceeding an October peak spurred by a stimulus blitz. A tech gauge in Hong Kong entered a bull market earlier this month, fueled by Chinese startup DeepSeek's AI model that's hailed as a game-changer.