Hang Seng Index Opens Up 272 Points Today; Alibaba Climbs 3%

Today, the Hang Seng Index opens up 272 points (1.1%), reaching 24,835 points and reclaiming the 50-day moving average after Friday's 446-point decline below the 25,000 level. The National Index opens up 116 points (1.4%) at 8,252, while the Tech Index rises 101 points (2.2%) to 4,724.

China-listed tech stocks lead gains. Alibaba opens 3% higher at HK$116; Tencent rises 0.9% to HK$465.60; Meituan climbs 2.5% to HK$85.70; JD.com advances 2.3% to HK$119; Xiaomi gains 2.3% to HK$27.50. Kuaishou, which fell over 7% on Friday, rebounds with a 2.7% gain at HK$44.44. Chipmakers also perform well, with SMIC opening 2.9% higher at HK$69.65.