Hang Seng up 1.18% at 17,978 points (Il Sole 24 Ore Radiocor) - Hong Kong , 03 Jul - Hong Kong shares closed higher amid strong Asian markets, extending yesterday's gains and further rebounding from their lowest levels in two months.

The Hang Seng index closed up 1.18% at 17,978 points after posting in June its first monthly loss since January.

In the city's stock market dealings property shares rose for a second day after an industry report showed stronger than expected home sales figures, with yearly sales declines for major Chinese property developers continuing to narrow in June.

The figures revived hopes that efforts to revive China's property market - including a major government package of support measures launched in mid-May - were working.

The Hang Seng Mainland Properties index jumped 3.05%.

Tech giant Alibaba rallied 2.48% after it announced yesterday that it had repurchased a total of 613 million of its ordinary shares for a total of 5.8 billion US dollars in the quarter ending June.

In Hong Kong stock market dealings technology shares rebounded from losses in the previous session, with the Hang Seng Tech Index up 2.48%.

AAA-Ver

(RADIOCOR) 03-07-24 12:20:26 (0326) 5 NNNN