Hang Seng Index Jumps Over 2% as State Buying Lifts Hong Kong Stocks

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The Hang Seng Index rose 2.36% to 25,143, gaining nearly 600 points to reclaim the 25,000 level and its 50-day moving average. The rally followed nearly ¥60 billion in purchases by Chinese state-backed investment platforms, boosting market sentiment. Technology stocks including Tencent, Alibaba, and Xiaomi led the gains, while oil companies advanced after crude oil …