Hong Kong stocks climb on China’s vow to step up tech self-reliance, boost domestic market
Hang Seng Index rises ahead of a meeting between Xi Jinping and Donald Trump on Thursday next week
The Hang Seng Index climbed 0.7 per cent to 26,160.65 at the close of trading, extending a 0.7 per cent gain from Thursday. The Hang Seng Tech Index advanced 1.8 per cent. On the mainland, the CSI 300 Index rose 1.2 per cent and the Shanghai Composite Index added 0.7 per cent.
Tech heavyweights led the gainers. E-commerce firm Alibaba Group Holding jumped 2.3 per cent to HK$168.30, after opening pre-orders for new smart glasses powered by its AI software. Chinese homegrown chipmaker SMIC surged 8 per cent to HK$80, while short-video platform Kuaishou Technology advanced 2 per cent to HK$74.95, and search-engine leader Baidu rose 1.1 per cent to HK$117.80.
Limiting gains, electric-vehicle maker Li Auto fell 2.1 per cent to HK$85.10, while sportswear producer Li Ning slipped 2.1 per cent to HK$18.15, and blind-box toymaker Pop Mart International lost 0.9 per cent to HK$230.40.
