The Hang Seng Index closed 1.5 per cent higher at 23,681.48, a level not seen since March 24. The Hang Seng Tech Index added 1.2 per cent. On the mainland, the CSI 300 Index climbed 0.5 per cent and the Shanghai Composite Index advanced 0.4 per cent.
Morgan Stanley’s upbeat view on China’s pharmaceutical industry boosted drug makers, which led the broader market gains. CSPC Pharmaceutical Group jumped 6.1 per cent to HK$6.30, Hansoh Pharmaceutical Group surged 5.7 per cent to HK$24.85 and Sino Pharmaceutical gained 3 per cent to HK$4.18.
Xiaomi climbed 4.7 per cent to HK$54.80, rising for a third day ahead of the tech firm’s unveiling of new products this week. Alibaba Group Holding rebounded 2.1 per cent to HK$121.70 after declining for three days.
