Hang Seng Surges 1.6% at Close
The Hang Seng jumped 361 points or 1.6% to finish at 22,977 on Tuesday, notching its highest level in more than four months, after a rare gathering Monday between Chinese President Xi Jinping and the country's tech sector figures.
He assured business leaders of increased support and wider market access amid mounting US rivalry. Meanwhile, US futures were notably higher as Wall Street prepares to resume trading after Monday's holiday. Capping further gains was vigilance ahead of China's upcoming monthly key lending rate fixings.
Most sectors rose, with tech and consumers soaring over 2%, each. Geely Auto climbed 4.7% after reaching a deal with French automaker Renault to produce and sell zero- and low-emission vehicles in Brazil.
Intelligent vehicle solutions provider Black Sesame International Holding climbed 3.2% on robust earnings forecasts. Meituan and Tencent Holdings each added 1.5% while Kuaishou Tech (8.9%), Xiaomi Corp. (6.2%), and Laopu Gold (4.8%) posted robust gains.
Source: Trading Economics