Hong Kong Stocks Rally as Chip Sector Booms

Despite an initial slump, Hong Kong stocks rallied in the afternoon session, with the Hang Seng Index finding its footing and turning positive. The index had dipped by nearly 4% at the start of trading, but a surge in semiconductor companies fueled a turnaround, leading to gains across various sectors. Semiconductor Manufacturing International Corporation (00981.HK) saw a notable jump of almost 11%, while Hua Hong Semiconductor (01347.HK) experienced an increase of over 7%.