Market participants are awaiting authorities' next policy move as the National People's Congress begins its annual meeting on March 5. Key topics to monitor include discussions about the governments "new model" for the property sector, local government financing and fiscal reforms, as well as other demand-side stimulus such as support to consumption
At closing bell, the benchmark Hang Seng Index surged 156.06 points, or 0.94%, to 16,790.80. The Hang Seng China Enterprises Index added 83.54 points, or 1.46%, to 5,806.90.
Shares of citys developers rebounded after a weak home-price report renewed pressure on the government to stimulate the industry. Sun Hung Kai Properties rose 1.2% to HK$77.50, and New World Development rallied 2.5% to HK$9.80. Wharf REIC added 1.6% to HK$25.80, and Henderson Land gained 0.7% to HK$22.20.
Tech shares jumped, with Semiconductor Manufacturing International Corp up 10.2%, helped by the AI boom in the United States.
Chinese EV maker Li Auto surged 25% to HK$175.50 after posting a record quarterly profit, and electricity distributor CLP soared 4.4% to HK$66.65. Carmaker BYD jumped 5.3% to HK$197.90.
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