Hong Kong stocks hit a three-year high on Wednesday, as a correction for the largest US tech firms turned investor attention to their Chinese counterparts, which led a gauge of local tech stocks to briefly breach the 6,000-point mark.
The Hang Seng Index jumped 3.3 per cent to 23,787.93 at the close, a level not seen since February 21, 2022. It also wiped out a decline of 1.9 per cent recorded over the past two days. The Hang Seng Tech Index surged 4.5 per cent to finish just shy of 6,000, a threshold it touched briefly for the first time since December 2021.
On the mainland, the CSI 300 Index climbed 0.9 per cent and the Shanghai Composite Index added 1 per cent.
Alibaba Group Holding, which owns the Post, added 4.8 per cent to HK$136.90, recovering most of its losses from the past two days. E-commerce rival JD.com advanced 8.5 per cent to HK$168.10. Tencent Holdings gained 3.4 per cent to HK$501.50 and Meituan climbed 9.8 per cent to…
