Hong Kong stocks extended their winning streak for a sixth straight day on Wednesday, with the benchmark Hang Seng Index skyrocketing nearly 660 points at its peak in the morning to 27,786, its highest level in more than four and a half years.
The rally was led by the technology sector. Chinese mainland giant Tencent rose over 2.1 percent to HK$620 per share, while Alibaba advanced 1.65 percent to HK$172.70.
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Energy and telecom stocks also saw robust performances, with China Oilfield Services increasing almost six percent, and China Telecom Corp gaining 5.29 percent.
Newly listed Busy Ming Group, one of the mainland’s largest snack chains, made a strong debut, soaring 70 percent to HK$402.80 per share.
By the end of the morning session, the HSI was up 598.30 points, or 2.2 percent, at 27,725.25. The Hang Seng China Enterprises Index — a barometer of Chinese mainland companies — was up 2.37 percent to 9,463.76 points, while the city’s technology stock gauge — the Hang Seng Tech Index — rose 1.74 percent to 5,854.72 points.
