Update | Tencent leads rebound in Hong Kong stocks as investors await interim results

Hong Kong stocks clawed back some of last week’s losses on Monday, as Tencent led a broad rebound in blue chips, despite disappointing new Chinese economic data.

The Hang Seng Index gained 1.36 per cent, or 366.72 points, to 27,250.23 while the H-shares index added 1.27 per cent, or 134.27 points, to 10,707.24 points. Turnover stood at HK$80.02 billion.

Gains were led by high-tech, consumer and commodities companies that had been hit by losses last week.

Investors are awaiting the interim results of Chinese online giant Tencent on Wednesday. The stock advanced 4.51 per cent to HK$324.6 on Monday, the biggest contributor to gains in the Hang Seng Index.

Shares of telecom giant China Unicom surged 5.8 per cent to HK$12.02 after the company said on Friday it expects to report a 79 per cent jump in first-half net profit.

“The rebound we saw today was fuelled by tech shares,” said Louis Wong, director at Phillip Securities. “Investors are expecting some big Chinese companies results in the following two weeks. And whether the market will further stabilise also depends on the easing of political tensions.”