China stocks soar on AI, trade hopes. Which are the country’s ‘Terrific 10’ firms?

[SINGAPORE] Chinese stocks have see-sawed since late last year, as investors reacted to factors ranging from government stimulus, artificial intelligence (AI) and US President Donald Trump’s trade tariffs.

The Asian giant’s companies had experienced a lengthy bear market in the past few years, with investors flocking to US markets. Last October, Hong Kong’s Hang Seng Index also plummeted sharply after investors’ hopes of a long-awaited rebound were left unfulfilled following a disappointing stimulus announcement from Beijing.  

The script has flipped in the second quarter of 2025. While the US faces renewed trade uncertainty and market volatility over tariffs, Chinese equities are staging a resurgence, led by what some analysts are now calling the “Terrific 10”: tech and consumer giants listed mostly in Hong Kong that are witnessing a revival in investor sentiment. This group includes companies such as Alibaba, Tencent and BYD.