HK Market Rallies, Driven By Tech Stocks

Hong Kong shares posted healthy gains for a second day on Tuesday as heavyweight tech shares soared, while other markets in the region also headed north on the lead of Wall Street.

The Hang Seng Index started more than 300 points higher and was buoyant through the day. It finished up 618 points, or 2.5 percent, at 25,727.

Turnover was HK$171.8 billion.

The Hang Seng Tech Index, which had been hammered by a regulatory crackdown on the mainland, surged more than seven percent.

JD.com soared nearly 15 percent, after the e-commerce giant reported forecast-beating second-quarter earnings.

Meituan jumped 13.5 percent to become the top blue-chip performer. Alibaba rebounded 9.5 percent. Tencent advanced 8.8 percent. Xiaomi gained 3.7 percent.

Casino operators also fared well. Sands China rallied 9.5 percent. Galaxy Entertainment rose nearly nine percent.

The Shanghai Composite Index and the blue-chip CSI300 index each added about one percent, after the central bank on the mainland promised to keep credit supply stable and boost support for small businesses. The Shenzhen Composite was 0.9 percent higher.

Taiwan edged up about 0.5 percent. The Nikkei in Japan rose 0.9 percent. South Korea's Kospi jumped 1.6 percent. Australian shares were 0.2 percent firmer. Singapore gained 0.7 percent.