The Hong Kong stock market closed higher. The Hang Seng Index rose by 0.87%, the Hang Seng Tech Index surged by 2.24%.

Shenzhen Hipine up 258%; Zijin Gold Intl rose 68%; Shangshan Gold up 13%; Hua Hong Semi up 11%; Ganfeng Lithium up 9%; Kuaishou rose 7%; Bilibili up 6%; CATL and SMIC up 4%; NIO and XPeng up 3%; Li Auto and Alibaba up 2%.

China’s manufacturing activity contracted for a sixth straight month in September, underscoring weak domestic demand as manufacturers awaited fresh stimulus and clarity on a potential trade deal with the United States. The manufacturing purchasing managers’ index stood at 49.8 in September, official data showed on Tuesday, higher than August’s reading of 49.4 but short of a 50.1 projection from a survey of economists by financial data provider Wind.

「It’s a number that feels like an exhausted runner leaning across the finish line: not a victory, but at least forward motion,」 said Stephen Innes, managing partner at SPI Asset Management, in a note. 「China’s growth year-to-date has leaned on exports like a weary hiker leaning on a walking stick. That crutch can hold, but it’s not enough to power a confident stride.」

China’s Communist Party will convene its annual plenum in Beijing from October 20 to 23 to review and endorse the draft of the 15th five-year plan, party mouthpiece Xinhua said on Monday. The Politburo, chaired by President Xi Jinping, set the agenda at a Monday meeting that also outlined revisions to the blueprint for the nation’s economic, political and social goals amid tensions with the United States.