Hong Kong stocks rose on Wednesday to their highest level in more than four years, tracking overnight gains on Wall Street, with investors expecting shares to rally further on the back of robust corporate earnings this year.

The Hang Seng Index (HSI) rose by 1.81% to 27,619.25, the highest level since July 2021; the Hang Seng China Enterprises Index (HSCEI) increased by 1.87%, the Hang Seng Tech Index (HSTECH) gained 1.24%.

NovoSense surged over 10%; SD Gold up 6.8%; China Hongqiao up 5%; Ali Health, Pop Mart up 4%; Kuaishou, Bilibili up 3%.

Foreign investors’ stance on China has become more constructive, shifting from a broadly negative view to a more nuanced assessment of opportunities, supported by last year’s strong market performance and progress in technology innovation, said Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs, at a media briefing on Tuesday.