HK stocks punch up as internet plays regain ground

The mainland's blue-chip stock index edged up on Friday and closed the holiday-shortened week near its lowest level in more than a year as a selloff in AI-related supply chain shares ⁠deepened, while Hong Kong stocks rebounded on gains in internet companies.

The benchmark Hang Seng Index rose 425 points, or 1.8 percent, to 24,211 on turnover of HK$209.2 billion.

For the entire week, the index climbed 1 percent.

The tech index rose 124 points, or 3.1 percent, to 4,197 but was still hovering near a two-year low while the China enterprises index ended the day 137 points, or 1.7 percent, higher at…