Hong Kong's Hang Seng Index Climbs 445 Points to 23,117 in Afternoon Trading

Hong Kong's Hang Seng Index climbed 445 points, or 1.97%, to 23,117 in afternoon trading on June 29, as the benchmark continued its recovery after last week's decline. The index had earlier risen more than 500 points during morning trading, breaking back above the 23,100 level.

The National Index advanced 193 points, or 2.59%, to 7,654, while the Tech Index gained 148 points, or 3.48%, to 4,403. Pharmaceutical stocks led gainers, with China Pharma Holdings jumping 8%. Tech stocks also recovered strongly, with Baidu rising 6.9% and Meituan up 7.3% after its CFO announced plans for share buybacks.