Hang Seng up 2.06% at 17,832 points (Il Sole 24 Ore Radiocor) - Hong Kong , 11 Jul - Hong Kong share prices closed sharply higher, rebounding from recent losses amid strong Asian markets.

In the city's stock market dealings tech shares soared, with chipmakers tracking Taiwan's TSMC higher after stronger-than-expected second quarter revenue figures from the world's largest contract chipmaker.

The Hang Seng Tech Index closed up 2.67%.

Property shares snapped a four-day losing streak, with the Hang Seng Mainland Properties index soaring 2.64%.

Financials stocks were also broadly higher in Hong Kong dealings.

The city's stocks tracked gains on Wall Street overnight, as dovish comments from Fed Chair Jerome Powell spurred optimism over a soft landing for the US economy.

Traders now awaited the US consumer price index reading due later today to assess the Fed's interest rate path, amid growing bets on lower US interest rates.

The Hang Seng index closed up 2.06% at 17,832 points, rebounding from a near three-month low hit Monday and after posting in June its first monthly loss since January.

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(RADIOCOR) 11-07-24 12:27:49 (0305) 5 NNNN