Staff of Reuters 2 Minute Read* The Hang Seng index rose 1.63 percent today. China’s Business Index 1.69 percent increase in HSCE * Tencent’s stock climbs 3.93 percent on the approval of the Sogou deal* HSBC surges after the Bank of England lifts dividend restrictions. Reuters, July 13 – After Chinese regulators authorized a deal involving index heavyweight Tencent Holdings and the Bank of England abolished dividend rules on lenders including HSBC, Hong Kong shares climbed on Tuesday as high tech and financials sectors rallied. * The Hang Seng index was up 448.17 points, or 1.63 percent, at 27,963.41 at the close of trading. The Hang Seng China Enterprises index increased by 1.69 percent to 10,113.32 points. * Tech companies in Hong Kong drove gains, with the Hang Seng IT sub-index climbing 3.3 percent and the Hang Seng Tech index rising 1.94 percent. * Tencent Holdings Ltd gained 3.93 percent after China’s antitrust authority authorized its plan to buy Sogou Inc, the country’s third largest search engine, for $3.5 billion on Tuesday. * The banking sector rose 1.54%, with HSBC Holdings Plc’s Hong Kong shares ending 2.62 percent higher after the Bank of England announced on Tuesday that pandemic-era payout restrictions on top bankers would be lifted with immediate effect. * Data from customs showed that China’s exports expanded far faster than predicted in June, and import growth also outperformed expectations. * The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, which rose 5.18 percent, while the biggest loser was WuXi Biologics (Cayman) Inc, which fell 3.1 percent. ** China’s main Shanghai Composite index ended up 0.53 percent at 3,566.52 points, while the blue-chip CSI300 index ended up 0.18 percent. Kuaishou Technology was the top gainer among H-shares, up 5.69 percent, followed by Geely Automobile Holdings Ltd, up 5.18 percent, and Alibaba Group Holdings Ltd, up 3.95 percent. (Andrew Galbraith contributed reporting, and Shailesh Kuber edited the piece.) )/n
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