Hong Kong stocks reclaim 26,000 level as tech shares rebound

Hong Kong stocks gained more than 400 points and rebounded back to the key 26,000 level by Thursday noon after a high opening lifted by mainland shares.

The benchmark Hang Seng Index opened 126 points higher at 26,061 - which marked the session's low - before extending gains to reach an intraday high of 26,381. By midday, the Hang Seng had gained 425 points or 1.64 percent to close at 26,361. 

The tech gauge advanced 2.03 percent to 5,903.

Half-day Market turnover reached HK$127.14 billion, with northbound capital recording a net inflow of HK$1.55 billion. 

Among the 88 constituent stocks, 80 rose while only 6 declined.

Technology stocks led the rebound, with Alibaba (9988) rising 3 percent to HK$163.2, Tencent (0700) gaining 2.4 percent to HK$644, JD.com (9618) advancing 2.4 percent and Meituan (3690) climbing 2.2 percent. 

Semiconductor stocks also saw strong buying interest, with SMIC (0981) surging 5 percent and Hua Hong Semiconductor (1347) rising 3.5 percent.