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Hong Kong shares end firmer as bargain hunters boost Alibaba after recent sell-off

* HK->Shanghai Connect daily quota used 4.9%, Shanghai->HK daily quota used 3.8%

* HSI +1.0%, HSCE +1.3%, CSI300 -0.4%

* FTSE China A50 -0.4%

BEIJING/SHANGHAI, Dec 29 (Reuters) - Hong Kong shares ended higher on Tuesday, as gains in shares of Alibaba Group Holding Ltd led a rebound in tech stocks following a sharp sell-off in previous sessions.

** At the close of trade, the Hang Seng index was up 253.86 points, or 0.96%, at 26,568.49. The Hang Seng China Enterprises index rose 1.34% to 10,449.17. ** The IT sub-index and financials rose 3.64% and 0.36%, respectively, while the property sector dipped 0.36%. ** Alibaba surged 5.71% and was the top gainer on Hang Seng as investors lapped up its shares after a rout in previous sessions due to an anti-trust probe knocked off almost $116 billion from the e-commerce company’s market capitalization. ** Alibaba announced an upsized $10 billion buy-back program on Sunday.

** Shares in internet companies also ended higher, with Xiaomi Corp and Meituan soaring 5.3% and 5.15%, respectively. ** China’s main Shanghai Composite index closed down 0.54% at 3,379.04, while the blue-chip CSI300 index ended down 0.42% on profit-taking after a recent rally. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.18%, while Japan’s Nikkei index closed up 2.66%. ** The yuan was quoted at 6.5315 per U.S. dollar at 08:14 GMT, 0.1% firmer than the previous close of 6.5383.

Reporting by Cheng Leng in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; Editing by Rashmi Aich

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