China Tech Stocks Gain on Renewed Bets of Crackdown Ending

Chinese tech stocks advanced following a report that regulators are wrapping up an investigation into Didi Global Inc. with a hefty fine, with traders again hoping this will herald an end to a crackdown on the sector.

The Hang Seng Tech Index gained 1.6% on Wednesday, with Meituan and NetEase Inc. contributing the most to the rise. The move also tracks the advance in US tech stocks overnight after Netflix Inc. reported better-than-feared earnings.