Hong Kong equities made early gains on Wednesday, as major Chinese technology stocks continued to rally over possible signs of increased state support for markets.
Hong Kong’s Hang Seng index jumped 1.9 per cent in early trading and China’s CSI 300 added 0.2 per cent.
NetEase, Alibaba and Baidu led gains, adding 5.4 per cent, 5 per cent and 4.8 per cent, respectively. Tuesday’s news that China’s video game regulator took down draft regulations proposing controls on players’ spending helped boost tech shares.
Elsewhere, Japan’s Topix shed 0.3 per cent even as data for December showed exports rose 9.8 per cent from the previous year. Japan’s stock market remains close to highs last reached in 1989.
