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The Hang Seng Index gained 1.88% to recover 19,000 mark and close at 19,148, the Hang Seng China Enterprises Index up 2.08% and the Hang Seng Tech Index jumped 2.57%.
Technology heavyweights led the rally, with NetEase up nearly 5%, Kuaishou up more than 3%, Alibaba, JD.com and Tencent up more than 2%, Xiaomi and Baidu up more than 1%.
Mainland property developers were higher across the board driven by the yuan’s strengthening and market expectation of more favourable policy measures. Property management companies, building material suppliers, cement producers and home appliance makers were also higher.
Mobile phone component suppliers also rallied as the latest data showed that China’s handset shipments jumped 25.2% on year in May. Gas suppliers, financial institutions, semiconductor companies and mobile game companies were also higher.
Electric power companies retreated after a strong rally one day earlier. Hong Kong retailers, automakers and casino operators underperformed.
