China Tech Stocks Surge Most Since August After Hitting New Lows
- Charlie Munger is reported to have boosted stake in Alibaba
- Hang Seng Tech Index jumps by most in more than six weeks
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Chinese technology stocks rebounded Thursday from a record low, following their American peers higher amid signs of renewed interest in one of China’s biggest tech names.
Hong Kong’s Hang Seng Tech Index jumped 5.2%, its biggest gain in more than six weeks, led by Meituan and Kingsoft Corp., which were both up at least 8.9%. Tech shares helped propel the broader Hang Seng Index, which advanced 3.1%.