Chinese Stock Rally Resumes as Xi Vows Support for Private Firms
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Chinese stocks in Hong Kong gained after a meeting between President Xi Jinping and prominent entrepreneurs signaled Beijing’s endorsement of the private sector.
The Hang Seng China Enterprises Index rose 1.8%, taking its rally since a January low to nearly 24%. Technology stocks including Alibaba Group Holding Ltd. and Xiaomi Corp. contributed the most to Tuesday’s advance. The CSI 300 Index, an onshore benchmark, ended 0.9% lower amid signs of profit taking.