Hong Kong stocks climb out of bear market as Tencent powers recovery amid oversold signals


Source: scmp.com scmp.com

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Hong Kong stocks climbed from an almost 10-month low as traders bought Chinese technology stocks after the market‘s slump into bear-territory last week pushed their levels into a deeply oversold zone. The Hang Seng Index rose 2.3 per cent to 25,429.97 as of 10.07am local time. The benchmark dived 5.8 per cent last week to the lowest level since November 2. The Shanghai Composite Index climbed 0.9 per cent to 3,459.39. Tencent Holdings rallied 2.8 per cent to HK$437.20 and Meituan rose 2 per cent to HK$197.30. Alibaba Health Information Technology jumped 5.7 per cent. The Hang Seng Index and...