Hong Kong stocks saw a strong rebound and the

Moomoo 24/7 · Jul 24, 2023 22:29

Hong Kong stocks saw a strong rebound and the Hang Seng index climbed 3% on Tuesday after China’s top leaders on Monday pledged to boost consumption and offer more support for the troubled property sector to help revive a slowing economy, Bloomberg reported.

Real estate developer $LONGFOR GROUP (00960.HK)$ jumped almost 20% and was the biggest gainer on the index, while property management firm $COUNTRY GARDEN (02007.HK)$ Holdings surged 13%.

Hong Kong tech names were also part of the top gainers on the index, $Hang Seng TECH Index (800700.HK)$ with the climbing 4.46% and led by electric vehicle makers. Chinese EV maker $XPENG-W (09868.HK)$ saw a 10.93% gain, while $NIO-SW (09866.HK)$ climbed 9.25%.

$BABA-SW (09988.HK)$ advanced 4.75% and $TENCENT (00700.HK)$ added 4% while $JD-SW (09618.HK)$ increased 7%.

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