Hong Kong's stock market has experienced a significant rally, with the Hang Seng China Enterprises Index rebounding by 20% from its late January low, marking its entry into a technical bull market for the first time since China lifted Covid restrictions in late 2022. The Hang Seng Index and the Hang Seng Tech Index also saw notable increases, rising by 1.9% and 2.4% respectively. Major tech stocks including JD.com and Alibaba saw gains of 5%, while Meituan and Tencent increased by 3.6% and 2.5%. Other notable movers were Xpeng and NIO, with rises of 7% and 6.3%, and Li Auto and Xiaomi, which increased by 3.6% and 1.5%. This rally is attributed to improved investor sentiment following upbeat economic data, with the Hang Seng Index closing up at 17,139.17 points. Additionally, the MSCI China Index and the MSCI Emerging Markets Index have reached their highest levels of the year and the strongest level since June 2022, respectively.
"The MSCI Emerging Markets Index rose for a third day, cementing its strongest level since June 2022." @SriniSivabalan https://t.co/oE5NZNeyM8
“The Hang Seng China Enterprises Index gained 2.1% on Wednesday, taking its advance from a Jan. 22 low to more than 20%. The gauge has entered a so-called technical bull market for the first time since China scrapped Covid controls in late 2022.” https://t.co/Ig5EI7uJwP
HK’S HANG SENG INDEX CLOSES UP 1.9% AT 17,139.17 POINTS
🇨🇳 Chinese Stocks in Hong Kong Extend Gains to Approach Milestone – Bloomberg https://t.co/3fMmML1s9d https://t.co/ci8PoW4PD1
Strong rally in HK markets. Hang Seng China Index now up 20% from 2024 lows. Hang Seng China, Hang Seng Index and MSCI China now at highest levels of the year https://t.co/0tCkA7bosL
Hang Seng China Enterprises Index rebounded by 20% from the end-January bottom. Hang Seng Index rises 1.9%, Tech Index +2.4%. $JD and $BABA +5%, #Meituan +3.6%, #Tencent +2.5%. $XPEV +7%, $NIO +6.3% $LI +3.6%, #Xiaomi +1.5%. #HongKong #stockmarket $HSI https://t.co/IVR0IFZtQj
A key gauge of Hong Kong-listed Chinese shares extended a rebound from this year’s low, as investor sentiment improves with upbeat economic data https://t.co/yTM3KUh0Aj