Tech giants drive Hong Kong shares to five-week high

Hong Kong shares ended at a five-week high on Tuesday, fuelled by tech giants tracking an overnight Wall Street rally, with video platform Bilibili Inc leading gains. The Hang Seng index rose 1.5% to close at 25,787.21, while the China Enterprises Index gained 1.8% to end at 9,136.07. ** The Hang Seng Tech Index rose over 3%, tracking a tech-driven Wall Street rally, with Bilibili leading gains, jumping 12%.

Hong Kong shares ended at a five-week high on Tuesday, fuelled by tech giants tracking an overnight Wall Street rally, with video platform Bilibili Inc leading gains. The Hang Seng index rose 1.5% to close at 25,787.21, while the China Enterprises Index gained 1.8% to end at 9,136.07.

** The Hang Seng Tech Index rose over 3%, tracking a tech-driven Wall Street rally, with Bilibili leading gains, jumping 12%. ** E-commerce giant Alibaba Group added 1.2%. The company said on Tuesday it had developed a processor that would be used to power servers in its data centers.

** Smartphone maker Xiaomi Corp jumped 5.4%, the second biggest intraday gainer on the Hang Seng benchmark. ** Xiaomi Chief Executive Officer Lei Jun said the Chinese smartphone maker will mass-produce its own cars in the first half of 2024, a company spokesperson said on Tuesday.

** A sub-index tracking financials stocks added 1.4%, the consumer staples gained 2.3%, and the healthcare sub-index was up 2%. ** China Evergrande Group has paid an onshore bond coupon due on Tuesday, four people with knowledge of the matter said, amid concerns about a possible offshore default by the cash-strapped developer later this week.

** Property firms and energy shares shed 0.2% and 0.5%, respectively.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)