Hong Kong's Hang Seng Index Rises 1.33% to Reclaim 25,000 Level on July 16, Tech Stocks Surge

According to Zhitong Finance, Hong Kong's three major indices extended gains at the close on July 16. The Hang Seng Index rose 1.33% or 327.5 points to 25,008.6, surpassing the 25,000 level with daily turnover of 322.89 billion Hong Kong dollars. The Hang Seng Tech Index gained 1.98% to 4,834.44, while the Hang Seng China Enterprises Index climbed 1.63% to 8,318.14.

Tech and large-cap stocks led the rally, with Alibaba-W rising 3.09% to 116.9 HKD and Xiaomi Group-W surging 6.34% to 27.5 HKD. Among sector highlights, gold stocks advanced widely, while storage concept stocks tumbled, with Lan Qi Technology plunging 22.95% after South Korean authorities investigated alleged semiconductor price manipulation involving the company.