HSI up as investors buy into Chinese tech

Hong Kong stocks rose in the morning session as capital continued to flow into Chinese tech assets.

The benchmark Hang Seng Index closed at 21,626 points by midday, up 331 points or nearly 1.6 percent, with a turnover of HK$151.76 billion.

The Tech Index closed at 5,203 points, up nearly 1.2 percent.

Alibaba (9988) surged nearly 7 percent, following news that it will collaborate with Apple to develop AI features for iPhone users in mainland China.

Its subsidiary, Alibaba Health (0241), also rose 7.1 percent, making it the best-performing blue chip.

Mainland markets however showed little change.

The Shanghai Composite Index closed at 3,317 points by noon, down less than 1 point, while the Shenzhen Component Index stood at 10,564 points, up 7 points.

STAFF REPORTER