August 23 (Reuters) – Hong Kong stocks rebounded on Monday from a low of nearly ten months last week, helped by gains in technology and health stocks.
** The Hang Seng index rose 1.1% to 25,109.59, while the Chinese companies index gained 0.8% to 8,815.56.
** The Hang Seng Tech index rebounded 2.1% after falling 2.5% on Friday to a record low as regulatory restrictions broke investor confidence.
** Gaming and social media giant Tencent rose 2%, after buying 240,000 shares of the company for 101.7 million Australian dollars ($ 13.1 million).
** Food distribution giant Meituan rose 1% and e-commerce giant Alibaba Group fell 3.7%.
** Members of the ruling Communist Party in Hangzhou Technology Center City have been ordered to resolve possible business-related conflicts of interest involving themselves or family members, the graft watcher said. country.
** Hangzhou is home to some of China’s leading software and Internet companies, including Alibaba.
** Hang Seng Healthcare subscale jumped 4.8%, its biggest daily gain since July 29th. Healthcare companies Wuxi Biologics and Alibaba Health Information Technology increased 7.3% and 6.1%, respectively.
** Hong Kong Exchanges and Clearing Ltd gained 5.7% on A-shares index launch plans.
** Chinese group Evergrande went down in almost six years, while related companies also fell in Hong Kong as real estate developer continued to struggle with massive debts.
** Shares of China’s Evergrande Group fell 12.4% to the lowest level since September 2015. The Evergrande Property Services Group fell 9.14%, while the Evergrande Group of China’s Evergrande energy vehicles fell 26.9% to a 14-month low. (Shanghai Editorial Report; Subhranshu Sahu Edition)