Hong Kong stocks surged on Wednesday, following a rally across Asia, after the US struck a deal with trade partners including Japan.
The benchmark Hang Seng Index jumped more than 400 points, over 1.6 percent, to close at the intraday high of 25,538 points – its highest since November 2021.
The main board market turnover was HK$333 billion, up 25 percent from Tuesday.
The Hang Seng Tech Index soared 2.5 percent to 5,745 points. Chinese tech giant Tencent (0700) rallied nearly 5 percent and Baidu (9888) increased by 6 percent.
They tailed the Chinese short video platform Kuaishou Technology (1024), whose shares surged 7 percent and became the biggest gainer among blue chip stocks. The share rise followed media reports that YouTube superstar MrBeast would launch his first livestream on a Chinese platform on Kuaishou on July 26.
Financial heavyweights also performed well, with CITIC (0267) and China Life Insurance (2628) both up by over 3 percent. HSBC (0005) inched up to HK$100.
In the mainland, the Shanghai Stock Exchange Composite Index closed flat at 3,582 points and the Shenzhen Stock Exchange Component Index went down 0.4 percent to 11,059.
STAFF REPORTER
