Midday wrap-up: HSI Swells 217 pts; BABA, Meituan Ascend; Oils Outstrip Broader Mkt

Hong Kong equities remained brisk over the first half of today’s session, powered by the robust rally of tech shares. $Hang Seng Index(800000.HK)$ closed at 21,868 by midday, up 217 pts or 1%. $Hang Seng China Enterprises Index(800100.HK)$ rose 107 pts or 1.5%, to 7,420. $Hang Seng TECH Index(800700.HK)$ burgeoned 70 pts or 1.6%, to 4,520. The turnover of the market contracted ahead of the Chinese New Year holidays and amounted to $43.219 billion by midday.

$BABA-SW(09988.HK)$ ascended 2.7% to $115.2 as investors’ interests were piqued by media reports of Jack Ma arriving in Hong Kong. $MEITUAN-W(03690.HK)$ ballooned 4% to $166.6. $TENCENT(00700.HK)$ , $XIAOMI-W(01810.HK)$ and $JD-SW(09618.HK)$ climbed 1-1.8%. $KUAISHOU-W(01024.HK)$ and $BIDU-SW(09888.HK)$ inched up 2.3% and 4.3%, respectively.