Hang Seng climbs, Alibaba Group builds on gains

Stocks are tracking higher in Hong Kong. The benchmark Hang Seng Index has gained by 310.93 points, or, 1.17 percent at 26,879.42.

Alibaba Group, which is in the sights of the Chinese financial market regulators over monopoly issues, built on yesterday's gains, rising by 5.77 percent at HK$234.80.

Yesterday the People's Bank of China said Alibaba Group payments company Ant Financial will set up a holding company.

Tencent Holdings (0700) is up by 3.96 percent at HK$551.50. Meituan Dianping (3690) is up by 5.19 percent at HK$287.60.

The broader Hang Seng Tech Index is up by 205.01 points, or 2.56 percent.