Chinese technology stocks rose sharply on the Hong Kong stock market on the 1st. The recent fall has pushed the major stock indexes to multi-year lows, prompting a rise on the downside.
The Hang Seng Tech index rose 6.2% at one point. Meituan, Tencent Holdings (Tencent), and Alibaba Group are all seeing notable growth. The Hang Seng China Enterprises Share Index (H), which includes mainland stocks, has also bounced back from its lowest level since late 2005. In some cases, the rate of increase was above 4%.
“There is clearly some movement to bottom out after the crash,” said Bunny Lam, head of research at CEB International Investments. “Some are looking to build long positions at the beginning of the month as this is the first trade in November. I can’t,” he said.
Original title:Tech Leads Broad Rally in Chinese Stocks After Historic Trail (抜粋）
