By Justina Lee

Shares of Chinese technology stocks rose sharply Monday, as investor sentiment got a boost after major U.S. outlets reported that Joe Biden has won the U.S. presidential election.

Among Chinese tech companies listed in Hong Kong, Semiconductor Manufacturing International Corp. jumped as much as 9.5% before trimming its gain to 7.3%. ZTE Corp. advanced 10%, Alibaba Group Holding Ltd. rose 3.2% and Tencent Holdings Ltd. added 2.6%. The Hang Seng Index was recently 1.4% higher at 26075.13, and the Hang Seng TECH Index increased 4.4% to 8507.35.

Chinese tech companies have been pressured in recent months due to clashes between China and the Trump administration in the tech space.

In September, the U.S. Commerce Department told American computer-chip companies that they must obtain licenses before exporting certain technology to SMIC, China's largest manufacturer of semiconductors. SMIC is supported by several state-owned entities and forms a big part of Beijing's effort to become self-reliant in advanced technologies such as chips.

A Biden presidency might mean the U.S. will take a softer stance on Chinese tech companies compared with President Trump, said Jingyi Pan, senior market strategist at trading firm IG.

A Biden administration is also likely to be more consistent, and U.S.-China relations will probably be less confrontational, which bodes well for Chinese tech companies, she said.

Write to Justina Lee at justina.lee@wsj.com

(END) Dow Jones Newswires

11-08-20 2312ET