Hang Seng posts biggest rally in three months, mainland property developers surge on hope of more policy easing
STOCKS
Hang Seng posts biggest rally in three months, mainland property developers surge on hope of more policy easing
STOCKS

Hang Seng posts biggest rally in three months, mainland property developers surge on hope of more policy easing

 

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The Hang Seng Index surged 4% to close at 18,949.9, marking its biggest rally in more than three months. The Hang SengChina Enterprises Index jumped 4.5% and the Hang Seng Tech Index surged 5.3%.

Technology heavyweights rallied across the board, with Meituan and Baidu surging more than 7%, Alibaba, Kuaishou and JD.com up more than 6%. 

Mainland property developers and property management companies surged on expectation of policy easing for the struggling sector, with KWF Group jumping more than 23%, Seazen and Longfor Group up over 15%, Agile Group and Sunac China up more than 10%. 

Automakers, casino operators, catering companies, coal miners and financial institutions were also higher across the board.