Hong Kong Rebounds 5% After Monday Plunge

Among the gainers today were WH Group, Geely, China Unicom and Techtronic Industries.

Author: Anthony Russo   

The Hang Seng Index (HSI) rebounded on Tuesday after Monday's fall, soaring nearly 5% to 22,663.49 points.

One of the largest gainers today in Hong Kong was the Chinese meat and food producer, WH Group Ltd., (HKEX: 0288) which soared nearly 11% to HK$6.60 per share. The vehicle maker, Geely Automobile Holdings Ltd. (HKEX: 0175) surged 11% at HK$11.16 per share. 

One of the world's largest telecommunications companies' China Unicom (Hong Kong) Ltd. (HKEX: 0762) rose 10% to HK$4.50 per share and power tool maker Techtronic Industries Company Ltd. (HKEX: 0669) gained nearly 10% at HK$46.60 per share.

The news today follows the HSI suffering its worst drop in 26 months on Monday. That now puts the benchmark it back in line with Friday's gain when it rose to 22,805.07 points.

By midday Tuesday, New York also saw some big gains. The Dow Jones soared 9% to 20,338.30 points, while the S&P 500 rose 8% to 2,42.58 points.