The Hang Seng Index jumped 1.8 per cent to 22,500.18 at the noon break after losing as much as 1.3 per cent in earlier trading. The Tech Index surged 3.5 per cent. Markets on the mainland are closed through October 7 for a holiday.
WeChat owner Tencent gained 1.9 per cent to HK$475.20. Alibaba gained 2.7 per cent to HK$113 and e-commerce peer JD.com surged 7.1 per cent to HK$182.50. Online travel agency Trip.com rallied 5 per cent to HK$533.
“Many investors wanted to see the effects of the policies to justify a long-term market turnaround,” John Choi, analyst at Daiwa Securities, wrote in a note to clients. This rally has more legs as many stocks are still trading below their three- and five-year averages, he said, adding that e-commerce companies will be among the key beneficiaries of further stimulus measures.
