Hong Kong stocks rose on Tuesday before a holiday break, as investors bet on stimulus policies after a gloomy report on mainland factory activity while awaiting fresh cues from China’s 15th five-year plan discussions.
The Hang Seng Index rose 0.9 per cent to 26,855.56 at the close, adding to a 1.9 per cent gain recorded on Monday. The Hang Seng Tech Index added 2.2 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index gained 0.5 per cent.
Pharmaceutical firm WuXi AppTec jumped 8.1 per cent to HK$118.70, while e-commerce firm Alibaba Group Holding added 2.1 per cent to HK$177. Online-game provider NetEase rose 2.1 per cent to HK$236.80, and electric-vehicle maker Li Auto advanced 2.9 per cent to HK$101.40. Chipmaker Semiconductor Manufacturing International surged 4 per cent to HK$79.55 after reports that Huawei Technologies would double output of its AI chips, seen as home-grown rivals to Nvidia.
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