The Hang Seng climbed 212 points or 0.8% to close at 25,317 on Friday, rebounding from the prior session’s losses as mainland markets hit a decade high on renewed tech optimism. The Hang Seng Tech Index surged 2.7% after DeepSeek unveiled an upgraded V3 AI model on Thursday, with support from domestic chips as China develops chip self-sufficiency. Consumer shares also rose sharply on hopes of fresh stimulus from Beijing after signs of slowing Chinese activity in July. Locally, Hong Kong’s annual inflation eased to a 4-year low of 1.0% in July, the third straight month of slowdown. Officials noted cost pressures in the city remained stable and expected inflation to stay subdued in the near term. Meanwhile, traders braced for Fed Chair Powell’s remarks at the Jackson Hole symposium. Notable movers included SMIC (9.7%), BYD Electronic (5.9%), Horizon Robotics (4.9%), Kuaishou Tech (4.3%), and Xiaomi Corp. (2.1%). For the week, the index added 0.3%, extending gains for the third week