China Tech Shares Stage Rebound After Five-Week Selloff
- JD Health, Alibaba Health recover after Friday’s beating
- Investors turn bargain hunters after last week’s rout
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Chinese technology stocks rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months.
The Hang Seng Tech Index closed 2.1% higher, following a near 11% slump last week that sent the gauge to the lowest level since its July 2020 inception on Friday. The index had dropped for five straight weeks, its longest losing streak since January 2019.