HSI Surges 514 pts at Close, Led by Techs

Hong Kong stocks rose on the back of the "valuation with Chinese characteristics" concept, as central SOE Guoxin Investment subscribed to the initial offering of the CSI Guoxin Guoxin Stock Connect SOE Premium Index ETF. $Hang Seng China Enterprises Index (800100.HK)$ ascended 219 points or 3.5% to close at 6,587.

Dotcom stocks rallied, with $NTES-S (09999.HK)$ rising 3.4%. $MEITUAN-W (03690.HK)$ and $XIAOMI-W (01810.HK)$ spiked 5.6% and 6.3%, while $JD-SW (09618.HK)$ and $BIDU-SW (09888.HK)$ escalated 2% and 2.3%.

JPMorgan raised its rating and target price on $BILIBILI-W (09626.HK)$ , citing that the company's Three Kingdoms-themed mobile game scored a smash hit. BILIBILI shares skyrocketed nearly 19%. $WEIMOB INC (02013.HK)$ , $TME-SW (01698.HK)$ , $ALI HEALTH (00241.HK)$ and $PA GOODDOCTOR (01833.HK)$ also hiked 3.9% to 5.3%.

AI concept stock $LENOVO GROUP (00992.HK)$ surged 9%, while $SENSETIME-W (00020.HK)$ and $MEITU (01357.HK)$ also soared 6.7% and 8.9%.