Hong Kong stocks climb to 3-week high as Xi’s top adviser pledges to support private companies despite crackdowns

Hong Kong stocks rose to a three -week high as Chinese Vice Premier Liu He reassured investors by pledging to support the nation’s private businesses despite ongoing regulatory crackdowns. Bargain hunting in battered technology companies gained more traction.

The Hang Seng Index gained 1 per cent to 26,163.63 for the highest close since August 16, adding to a 1.9 per cent advance last week. Carmaker BYD surged 7.8 per cent while social media and gaming giant Tencent Holdings rallied 3.5 per cent. Video platform operators Bilibili and Kuaishou Technology climbed by at least 3 per cent.