Hong Kong stocks staged a strong rally on Thursday, with the Hang Seng Index surging 3.6%, the hang Seng China Enterprises Index jumping 4.3% and the Hang Seng Tech Index soared 6%.
Technology heavyweights led the gains, with JD.com surging 11%, Baidu up more than 9%, Alibaba and Meituan up more than 8%, Tencent up 4.8%, after the State Council unveiled another 19 policy measures to stabilize economic growth and pledge to introduce measures to support development of private-run business and the platform economy.
Dairy companies outperformed, with Mengniu Dairy surging more than 9%, after it reported better-than-expected earnings for the first half of the year. Coal miners, mobile gaming companies, home appliance makers, defence stocks and electric power companies and automakers were mostly higher.
Hong Kong property developers and food makers were mostly sliding.
Chinese A-shares closed mixed, with the benchmark Shanghai Composite Index up nearly 1% to end at 3,246, the Shenzhen Component Index up 0.06% and the tech-heavy Chinext Price Index down 0.44%.
Coal miners led the gains, with an index tracking the sector compiled by Wind Information surged by 5.5%. Shipping companies, oil and gas companies, port operators, insurance companies also outperformed.
Lithium mining companies, solar power companies, energy storage companies and lithium battery producers were mostly lower.