Hong Kong stocks rallied on Tuesday, with the Hang Seng Index surging by 1.7% to 20,905.8, the Hang Seng China Enterprises Index up 1.5% to 7,185.2 and the Hang Seng Tech Index gained 1.37% to 4,596.3.
Mainland property developers and property management companies led the rally as market sentiment improves on a series of positive news, with CIFI Holdings surging 16.7%, Country Garden up 13.4%, Times China up 7.88% and KWG Group gaining 7.7%. Related…
Education companies outperformed led by Koolearn Technology surging more than 19%. Coal miners, oil companies, precious metal companies, automakers, wind power companies, gas distributors, insurance companies were mostly higher.
Technology heavyweights mostly gained with Alibaba Group up about 5% after the e-commerce giant announced the plan to seek dual primary listing in Hong Kong. JD.com, Baidu and Tencent also closed higher.
