(CNBC) Shares of e-commerce giant JD.com rose almost 15% on Tuesday as investors got a little clarity on the regulatory outlook after the passage of a major anti monopoly law.
Tencent edged higher by 8.8%, while food delivery firm Meituan gained 13.5%. Alibaba traded up 9.5%.
The surge in Chinese stocks saw its tech heavy Hang Seng Tech Index rise 7% to outperform the broader index which only gained 2.5%
Analysts say the passage of the Personal Information Protection Law on Friday by Beijing may have provided clarity on regulations in the market, allowing investors to buy on some of the names.
Positive earnings reports by Chinese tech giants also played a role in the surge.
Investors are also believed to be taking advantage of the recent plunge in Chinese stocks to buy, as they view some of names such as Alibaba and Tencent as being attractive.
Analysts now say investors will be keen on sub-sector trends and the 2022 story as the next waypoint for Chinese stocks.
9618: HKG is up +14.94%, 9988: HKG is up +9.47%, 0700: HKG is up +8.81%, 3690: HKG is up +13.51%.
