Chinese equities sustained a rally on Tuesday after Joe Biden and Xi Jinping signalled a desire to improve US-China relations in a meeting ahead of the G20 summit.Investors also embraced signs that Beijing was partially relaxing some of its pandemic policies and offering support to the property sector, even as China released data showing slower factory output growth and a fall in retail sales last month.
Hong Kong’s Hang Seng index added as much as 4.2 per cent and China’s CSI 300 gained up to 2.1 per cent. Elsewhere in Asia, Japan’s Topix rose 0.4 per cent and South Korea’s Kospi was flat.
The Hang Seng Tech index rose as much as 7.8 per cent with internet groups Alibaba and Tencent up about 11 per cent and 10 per cent, respectively.
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