Hong Kong stocks climbed from a one-month low, joining a rally in Asia-Pacific markets amid bullish bets on global rate cuts. Alibaba Group Holding led tech leaders higher on signs of surging demand from mainland-based investment funds.
The Hang Seng Index rose 0.8 per cent to 17,240.39 on Thursday, after sliding on Wednesday to the lowest level since August 9. The Tech Index advanced 0.7 per cent, while the Shanghai Composite Index slipped 0.2 per cent to fresh eight-month low.
E-commerce leader Alibaba, which owns the Post, jumped 2.1 per cent to HK$83.20. Onshore investors were net buyers of HK$11.6 billion (US$1.49 billion) worth of its shares since Tuesday, when it became an eligible component of the Stock Connect scheme. Rival JD.com added 2.5 per cent to HK$104.40 and food delivery platform Meituan gained 2.8 per cent to HK$122.70.
