Hong Kong Stocks Rebound on Stimulus Hopes and Oversold Conditions
• Hong Kong stocks rose the most in 3 weeks on hopes of stimulus from Beijing policy meeting and oversold technical indicators • Hang Seng Index closed 1.1% higher, led by gains in Li Ning, Tencent, JD.com and Alibaba • Billionaire Cheng family bought more shares of New World Development • 14-day relative strength indicator suggests selloff is overdone and rebound is imminent • Analysts say potential economic stimulus from Beijing policy meeting could aid Hong Kong stocks