HSI Hikes 173 pts as XIAOMI Swell 4%+

At close, $Hang Seng Index (800000.HK)$ hiked 173 pts or 1.1% to close at 16,374. $Hang Seng China Enterprises Index (800100.HK)$ rose 82 pts or 1.5% to close at 5,614. $Hang Seng TECH Index (800700.HK)$ climbed 63 pts or 1.7% to close at 3,730. Total market turnover for the day amounted to $86.628 billion.

$BABA-W (09988.HK)$ slashed its shareholdings of $GOGOX (02246.HK)$ by over 250,000 shares last month. $BABA-W (09988.HK)$ gained 1.9% to $70.1, while GOGOX plummeted 8.3% to $0.55. $CHINA LIT (00772.HK)$ spent RMB600 million to acquire the animation and comics platform assets of its parent company, $TENCENT (00700.HK)$ . The market is bullish on CHINA LIT's share buyback proposal. CHINA LIT surged 13.1%, while TENCENT increased 1.4% to $311.4.

For other technology stocks, $XIAOMI-W (01810.HK)$ , which is in dispute with Huawei over its cell phone "proprietary hinge" technology, advanced 4.1%. $JD-SW (09618.HK)$ and $BIDU-SW (09888.HK)$ leaped 2.1%, while $KUAISHOU-W (01024.HK)$ and $BILIBILI-W (09626.HK)$ swelled 3.3% and 3%. $MEITUAN-W (03690.HK)$ picked up 1.3%.