Posted 2/14/2024, 2:38:34 AM
Hong Kong Stocks Rally on Tech Gains Despite MSCI Index Cuts
- Hong Kong stocks advance as Tencent, Alibaba, Galaxy catapult market to winning start in Year of the Dragon
- Gains overcome early losses caused by MSCI cutting dozens of Chinese stocks from benchmark indices
- Tech index rallies 2.2% led by Tencent, Alibaba, Meituan and Trip.com
- Galaxy Entertainment and casino stocks jump on bets Lunar New Year holidaymakers will lift business
- Financial Secretary says economy "stable and improving" which could boost markets along with potential rate cuts