Hong Kong stocks extend rally

Hong Kong stocks extended gains further by midday on Monday, led by technology shares.

The benchmark Hang Seng Index rose 358 points, or 1.42 percent, to 25,578. 

The turnover reached HK$130.5 billion at the midday break.

The China Enterprises Index went up 1.22 percent to 9,028, while the Hang Seng Tech Index increased by 1.65 percent to 5,484.

In the tech sector, NetEase (9999) jumped 5.67 percent, Kuaishou Technology (1024) gained 5.15 percent, and Alibaba (9988) rose 4.13 percent. 

However, shares of Hua Hong Semiconductor (1347) and SMIC (0981) dropped 9.35 percent and 5.23 percent, respectively, as the US reportedly planned to allow Nvidia to sell H200 chips to China.

In mainland China, the Shanghai Composite Index inched down 0.34 percent to 3,821 at the midday break. The Shenzhen Composite Index fell 0.59 percent to 12,463.