China Tech Stocks Gain on Renewed Bets of Crackdown Ending
- Hang Seng Tech Index climbs after Tuesday’s pullback
- Report on Didi fine spurs bets that probe into firm is ending
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Chinese tech stocks advanced following a report that regulators are wrapping up an investigation into Didi Global Inc. with a hefty fine, with traders again hoping this will herald an end to a crackdown on the sector.
The Hang Seng Tech Index gained 1.6% on Wednesday, with Meituan and NetEase Inc. contributing the most to the rise. The move also tracks the advance in US tech stocks overnight after Netflix Inc. reported better-than-feared earnings.