Hong Kong Internet, Biden-Xi Virtual Summit, & NetEase Q3 Drive Rally


Source: newsotime.com newsotime.com

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Key News Asian equities had a mixed night on light volumes as Hong Kong outperformed, led by internet stocks. Hong Kong’s three most heavily traded stocks were Tencent, which gained +2.18%, Meituan, which gained +2.69%, and Alibaba HK, which gained +2.29%, driving the Hang Seng +1.27% while the Hang Seng Tech Index gained +1.68%. Hong Kong healthcare and real estate sectors gained +2.88% and +2.34%, respectively, followed by communication services, which gained +2.19%, and consumer discretionary, which gained +2.17%. The Biden-Xi virtual summit went well enough and continued into overtime, providing a path for continued dialogue in the future. This...