Chinese Tech Stocks Rally as JD.com Earnings Ease Bearish Views
- HSTECH gauge up more than 2%, poised for best day in August
- JD.com contributes most to the advance after solid earnings
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Chinese technology stocks gained as resilient earnings from major e-commerce firms helped soothe concerns over weak consumption.
The Hang Seng Tech Index rose as much as 2.2%, poised for its best day in August. JD.com Inc. contributed to about a third of the index’s gains after shares jumped more than 9% following a strong profit beat. Alibaba Group Holding Ltd. rose over 4% as traders focused on positive elements of its mixed results.