Chinese tech stocks extended a rally into a second day Wednesday, as share buybacks by Xiaomi Corp. and Alibaba Group Holding Ltd. spurred hopes that other tech firms may follow suit.
The Hang Seng Tech Index ended 2.1% higher, with Xiaomi gaining 4.1% and Bilibili Inc.’s 10% advance among the out performing names. The gauge has climbed nearly 40% from its low reached last week but remains down more than 50% from a February 2021 peak.
