Tech Leads Broad Rally in Chinese Stocks After Historic Rout

(Bloomberg) — Tech stocks led a rebound in Chinese stocks as dip buyers emerged following a rout that pushed key gauges to multi-year lows.

The Hang Seng Tech Index jumped as much as 6.2% on Tuesday before trimming some of its advance, with internet giants Meituan and Tencent Holdings Ltd. the biggest contributors to gains. A broader gauge of Chinese firms traded in Hong Kong rose as much as 4.3%, bouncing back from its lowest close since late 2005.