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<HK Open>HSI Leaps 563 pts; BABA Skyrockets 15%
Hong Kong equities were propped up by the robust rally of tech names, as BABA-SW (09988.HK) announced to establish six new business groups to pave way for potential separate spin-off listings. At open, the HSI leapfrogged 563 pts or 2.9% to 20,348; the HSCEI surged 205 pts or 3.1% to 6,935; the HSTECH thrived 172 pts or 4.2% to 4,316.

Companies of the Alibaba series broadly edged up. BABA-SW rocketed 15% to $96.85. ALI HEALTH (00241.HK) and ALI PICTURES (01060.HK) elevated 7.5% and 9.3%, respectively. TENCENT (00700.HK), which announced to roll out a WeChat version of Zhihu -- "Wen Yi Wen" search feature, ballooned 5% to $397.

Related NewsDaiwa Trims BABA-SW (09988.HK) TP to $98; Increasing Investment for Growth
As for other tech heavyweights, MEITUAN-W (03690.HK) inched up 4% to $140, while JD-SW (09618.HK) swelled 6.5% to $166.2. XIAOMI-W (01810.HK), BIDU-SW (09888.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) burgeoned 3-4.3%.
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