The Hang Seng Index advanced 1.1%, or 282 points, to 25,791 on Wednesday, tracking overnight gains on Wall Street as technology stocks rebounded. Softer crude oil prices and a pullback in US Treasury yields also lent support to Asian equities, though investors remained cautious amid ongoing uncertainty over US–Iran developments.
Healthcare names led the advance, with Innovent Biologics surging 10.5%, while the broader mood was buoyed by strength in technology shares. Alibaba was in the spotlight after Chairman Joe Tsai purchased an additional 720,000 shares worth about HK$82 million, following recent buying by other senior executives. These insider purchases helped alleviate worries surrounding the company’s HK$80 billion share placement to fund its AI expansion, which was slated to close on Wednesday.
Other notable gainers included Tencent (+1.0%), Wuxi Biologics (+2.1%), Xiaomi (+2.0%), Meituan (+2.3%), and Akeso (+7.4%).
