Chinese internet stocks led the tech rally in Hong Kong, with Alibaba, Baidu and Bilibili logging gains
Shares of Chinese internet and technology companies jumped in Hong Kong on the last day of the year, following a surge in their corresponding American depositary receipts overnight.
The Hang Seng Tech Index, which tracks the 30 largest technology companies listed in the city, rose 3.6% on Friday in a holiday-shortened trading session. Chinese internet stocks led the growth with Alibaba Group Holding Ltd. , Baidu Inc. and Bilibili Inc. each logging gains of around 8%.
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