Hang Seng up 0.22% at 18,444 points (Il Sole 24 Ore Radiocor) - Hong Kong, 04 Jun - Hong Kong shares closed moderately higher, extending yesterday's gains and further rebounding from a four-day drop session amid weak Asian markets.

The city's stocks outperformed their regional peers as Hong-Kong listed Chinese property shares rallied after Citi analysts said they expect the sector to 're-rate'. Recent policy measures reflect a "clearer top-level determination to stabilize the property industry with all-round policy turnaround and to accelerate the sector soft-landing," Citi said in a note.

The Hang Seng Mainland Properties Index rallied 2.35%.

In Hong Kong stock market dealings technology shares were slightly higher after yesterday's rally, with the Hang Seng Tech index up 0.32% The Hang Seng Index closed up 0.22% at 18,444 points.

The city's stocks logged in May a fourth straight month of gains, the longest since February 2021.

Concerns over higher-for-longer US interest rates, rising US Treasury yields, lingering concerns about China's property market and cooling optimism over fresh stimulus measures from Beijing however weighed on investor sentiment last week.

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(RADIOCOR) 04-06-24 11:48:41 (0283) 5 NNNN