HSI closes up 1.22% at 18,537 points (Il Sole 24 Ore Radiocor) - Hong Kong , 09 May - Hong Kong shares closed broadly higher, rebounding from a two-day drop and resuming a recent rally amid weak Asian markets.

The city's stock claw back to eight-month highs after posting earlier this week their longest winning streak since January 2018.

Helping support investor sentiment, authorities loosened more restrictions to prop up the country's troubled property market.

According to Reuters, the city of Hangzhou had lifted all home purchase restrictions, following similar moves in Shanghai and Beijing seen earlier this year.

Also helping boost investor sentiment, data showed that Chinese imports rose more than expected in April, fuelling hopes that domestic demand in the country is picking up. In Hong Kong stock market dealings technology shares were broadly higher, rebounding from a two-day drop and resuming last week's rally.

The Hang Seng Tech index closed up 1.95%.

The Hang Seng index closed up 1.22% at 18,537 points.

The benchmark index posted a 7.5% gain in April, its strongest monthly performance since January 2023, making it the world's best-performing index last month as expectations of more policy support from Beijing and renewed optimism over China's economic recovery recently boosted investor sentiment.

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(RADIOCOR) 09-05-24 11:26:15 (0280) 5 NNNN