By Yifan Wang

Chinese technology stocks were sharply higher in Tuesday's morning trade, partly boosted by the launch of a new technology index on the Hong Kong stock exchange and listing plans for Ant Group, Alibaba's financial arm.

At the mid-day break, Alibaba Holdings was up 6.6% while Alibaba Health Information Technology Ltd. surged 9.1%.

Ant Group's proposed listing, one of the most keenly-anticipated offerings in recent years, should boost sentiment for companies across the Alibaba ecosystem and cause these stocks to outperform, says KGI Securities. The brokerage added that the strong momentum in the U.S. market overnight may have also buoyed confidence in the technology sector.

Gaming and social-media giant Tencent Holdings rose 6.0%, delivery firm Meituan Dianping soared 8.3%, smartphone maker Xiaomi Corp. rose 5.8% and software developer Kingdee International Software Group Co. surged 12%.

Chipmaker Semiconductor Manufacturing International Corp. also rose 4.8%, after slumping over the past several sessions.

These stocks have all been included in the new Hang Seng TECH index, which was unveiled on Monday and is expected to launch on July 27.

The index could bode well for Hong Kong-listed technology stocks as the new benchmark could draw more investor attention to the Asian market from tech-heavy exchanges overseas such as Nasdaq as well as attract future listings for high-quality Chinese tech firms in the city, said Citigroup analysts in a research note.

The technology sector has become increasingly important in Hong Kong's equity market, with the segment's overall market capitalization making up nearly 35% of the exchange's main board as of end-June, from 15% in 2017.

Tech stocks in other regional markets also strengthened, with Taiwan Semiconductor Manufacturing Co. gaining 5.7% to a new record high. On the Shanghai stock exchange, Cambricon Technologies Corp. also jumped 24% after soaring on its trading debut Monday. 



  Write to Yifan Wang at yifan.wang@wsj.com