Hong Kong stocks opened higher and stretched out additions to 0.8 for each penny by Tuesday's mid-session close, with Tencent Holdings driving the path after the Chinese web monster put US$604 million in online clothing retailer Vipshop Holdings in its retail fight with Alibaba Group Holding.
The Hang Seng Index was cited at 29,291.07 by twelve, up 240.66 focuses on the past close.
Tencent, which climbed 2.1 for each penny to HK$402.6, contributed 59 focuses to the additions on Hang Seng Index.
Tencent declared on Monday that it would lead a US$863 million interest in Vipshop Holdings, in a move seen to equal Alibaba in internet business.
Tencent would put in US$604 million for a 7 for each penny stake, while internet business firm JD.com was contributing US$259 million for a 5.5 for every penny stake.
Citi experts said in a report that the organization manufactured by Tencent and JD can make a collaboration impact and broaden Tencent's items, while in the more drawn out term, additionally helping it to accomplish all the more huge information about purchasers' practices and preparing for its improvement of supposed "savvy retail".
It will be a win circumstance for all the three gatherings included, the experts said.
Cell phone part producer AAC Technologies Holdings hopped 3.3 for each penny to HK$141.6, and Sunny Optical Technology (Group) surged 4.1 for every penny to HK$103.9.