Why Lufax Holding Ltd. (LU) Surged On Friday?

We recently published a list of Five Chinese Firms Dominate Friday’s Top 10 Gainers. In this article, we are going to take a look at where Lufax Holding Ltd. (NYSE:LU) stands against the other friday’s top gainers.

The stock market suffered a bloodbath on Friday, with major indices posting whopping declines, as investors sold off positions for saver havens amid concerns about a slowing economy and sticky inflation.

The Dow Jones fell by 1.69 percent, the S&P declined by 1.71 percent, while the tech-heavy Nasdaq nosedived by 2.20 percent.

Meanwhile, 10 stocks—predominantly Chinese firms—defied a broader market downturn, clocking in gains.

To come up with Friday’s best performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A person’s hands typing on a keyboard, circling around a wealth management platform, signifying the company’s cutting-edge technology.

Lufax Holding Ltd. (NYSE:LU)

Lufax Holding saw its share prices grow by 5.44 percent on Friday to close at $3.1 as funds continued to flock to Chinese stocks on expectations that the booming Artificial Intelligence industry in China, thanks to DeepSeek, would bolster growth of firms across all industries.

Last week, reports showed that a growing number of Chinese companies—including those listed on the US stock market—were rushing to adopt DeepSeek’s models into their business operations.

LU, a financial services company empowering institution for small and micro businesses in China, traded higher in line with fellow US-listed Chinese companies namely Alibaba Group Holding Ltd. (NYSE:BABA), PDD Holdings Inc. (NASDAQ:PDD), Hesai Group Inc. (NASDAQ:HSAI), Tencent Music Entertainment Group (NYSE:TME), and Pony AI Inc. (NASDAQ:PONY).

Overall, LU ranks 9th on our list of friday’s top gainers. While we acknowledge the potential of LU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as LU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.