SHANGHAI – Hong Kong stocks ended higher on Thursday, as softer-than-expected US inflation data prompted bets of less aggressive rate hikes from the Federal Reserve.
Big tech companies listed in Hong Kong snapped a three-day losing streak, helping the city’s main stock benchmark rise the most in nearly one month. The Hang Seng Tech Index jumped 3.7 percent.
The Hang Seng Index rose 2.4 percent to 20,082.43, while the China Enterprises Index rose 2.7 percent to 6,823.39.
Property shares in Hong Kong rebounded, led by a 5.7 percent surge in Longfor.
Shares of Alibaba gained more than 4 percent in Hong Kong, despite plans by SoftBank Group Corp to slash its stake in the Chinese tech giant.
Alibaba and food-delivery giant Meituan, which also surged more than 4 percent, were biggest gainers boosting the Hang Seng Index.