Hong Kong stocks rebounded from a 13-month low after a rout prompted companies, including WuXi Biologics and Meituan, to unveil measures to support their share prices. Buyers returned, with the market approaching levels deemed technically oversold on charts.

The Hang Seng Index rose 0.8 per cent to 16,463.26 at close, clawing back some of the 4.2 per cent loss in the preceding three days. The Tech Index rallied 1.8 per cent but the Shanghai Composite Index eased 0.1 per cent.

WuXi Biologics gained 1.2 per cent to HK$30.70 after pledging US$600 million to buy back its own shares, after a two-day selling shaved 30 per cent off its value. Sands China rallied 4 per cent to HK$21, after parent Las Vegas Sands agreed to spend HK$1.95 billion (US$249.5 million) to raise its stake in the Macau casino unit. Meituan added 2.1 per cent to HK$86.40, aided by a US$1 billion buy-back plan.Elsewhere, Tencent climbed 0.9 per cent to HK$311.60 and NetEase jumped 4.6 per cent to HK$165.20 after China approved more video-game titles. EV makers BYD advanced 2.6 per cent to HK$213.20 while Xpeng added 1.7 per cent to HK$64.35. Peer Nio rallied 4.9 per cent to HK$59.20 after losses narrowed last quarter.Before today, the Hang Seng benchmark had lost 17.5 per cent this year on concerns about China’s economic slowdown. Losses accelerated on Tuesday after Moody’s lowered China’s rating outlook to negative from stable, and foreign funds sold onshore-listed shares by the most in six weeks.

This week’s sell-off, however, has pushed the Hang Seng Index’s 14-day relative strength indicator near the 30-point threshold that typically signals the selling is overdone, according to chartists.

“Gains in stocks still hinge on a re-acceleration of China’s economic growth,” said Zhao Hongmei, an analyst at Zhongtai Securities. “Until the signal emerges, stocks in Hong Kong will continue to consolidate and seek a bottom.”

An official report due on Thursday, may show that China’s exports stalled in November, after six straight months of contraction. Another report, that is scheduled to be released over the weekend, may show both consumer and producer prices shrank last month, heightening deflationary pressures.

Two companies made their trading debuts on Wednesday. Animal-feed producer Dekon Food and Agriculture Group added 1.5 per cent over its offer price to HK$37.50 in Hong Kong while Jiangsu Aisen Semiconductor Material jumped 118 per cent to 61.20 yuan in Shanghai.

Other major Asian markets were broadly higher. Japan’s Nikkei 225 climbed 2 per cent and Australia’s S&P/ASX 200 added 1.7 per cent, while South Korea’s Kospi was little changed.

ncG1vNJzZmivp6x7tK%2FMqWWcp51kr7a%2FyKecrKtfmLWqusBmma6rmaOytL%2BOmqmtoZOhsnB%2FkW1raWhjZLWwusZmoqiml2LAtbvCpKpmq56WvW5%2FjJ2YsmWjobalsYywrLGhXZe2sLjOoKCcq12orq%2Bw0maaoaGelnqtscCdZKudkqTCr7CMm6yyoZ6cerTBz6mmq6w%3D