The Hang Seng Index gained 0.9 per cent to 20,106.55 at the close on Tuesday, while the Hang Seng Tech Index added 2.1 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent and the Shanghai Composite Index fell 0.1 per cent.
China’s biggest chipmaker Semiconductor Manufacturing International Corporation jumped 6.4 per cent to HK$41.90, while iPhone camera lens maker Sunny Optical gained 7.3 per cent to HK$70.20. Carmakers Li Auto advanced 5.3 per cent to HK$94.10 and Geely Auto added 3.1 per cent to HK$14.74.
The Hang Seng Index has performed quite well in the last few days mainly because of the positive China economic data last week and expectations of improved US-China relations, according to Kenny Wen, head of investment strategy at KGI Asia.
“The upside also reflects the delay in immediate tariffs [on China],” he said, adding that further gains may be limited ahead of the Lunar New Year holiday next week.