Hong Kong stocks stage strong rally, Hang Seng back above 18,000 mark

 

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Hong Kong stocks stage a strong rally, with the benchmark Hang Seng Index up 2.05% to close at 18,212, the Hang Seng China Enterprises Index surging 2.46% and the Hang Seng Tech Index jumping 3.7%. 

Technology heavyweights were mostly higher, with Meituan surging more than 7%, Kauishou up more than 5%, Baidu, Alibaba, Tencent, JD.com and Xiaomi also higher. 

Semiconductor companies outperformed, with China’s top chipmaker SMIC surging over 4%. Live-streaming e-commerce companies, education companies, entertainment companies, automakers, casino operators, catering companies and precious metal companies were also higher. 

Heavy machinery manufactures led the losses, with China Communication Construction and China Rail COnstruction sliding more than 6%. Defence stocks, car dealers and coal miners were also lower.