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Home » Hong Kong stocks boosted by Alibaba; China rescue report scepticism lingers

Hong Kong stocks boosted by Alibaba; China rescue report scepticism lingers

    Hong Kong stocks rose on Wednesday as hopes of Chinese authorities coming to the rescue of a battered market and news of Jack Ma scooping up Alibaba Group shares lifted market sentiment. The Hang Seng Index (HSI) jumped 2.4% and the Hang Seng Tech Index was up as much as 3.7% in early trade, driven by the gains in benchmark heavyweight Alibaba, before ceding some ground. By midday, the HSI was up only 0.8%.

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