Hang Seng Index Soars 3.6% after a Rally in Tech Stocks Moves the Market

Hong Kong’s Hang Seng Index rose more than 3.5% in the morning session as the tech stocks yet again pulled the market up.

The main index of Asian financial hubs closed the morning session 3.62% higher, while mainland China gained 1.27% despite its disappointing industrial output in October, showing 5.0% growth on a yearly basis, which decreased from the 6.3% pace seen in September and 5.2% expected by economists.

The Hang Seng Tech Index is still down by around 30% this year, though seeing some return in recent weeks. The index today rose more than 7% at the closing of the morning session.

Shares of Tencent Holdings Ltd rose 9.82%, Meituan increased 8% and Alibaba Group Holding Ltd jumped 12%.


Meanwhile, Japan’s Nikkei moved between flatline and slight gain after reporting a contraction of 0.3 percent during July-September.

Thailand’s SET Index also traded narrowly with a gain of 0.15%, minutes before closing the morning session.