Shares of Chinese tech companies surge as social media app Xiaohongshu tops U.S. app charts.

Shares of companies linked to Xiaohongshu, a Chinese social media platform, surged after the app topped the Apple app store chart in the U.S. The Shanghai Composite Index rose 1.75% to 3,216 points, while the Shenzhen Component Index increased 2.42% to 10,033.42 points. Companies like Foshan Yowant Technology, Inly Media, and Shenzhen Ellassay Fashion saw their shares hit the daily 10% limit.

3 months ago
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