By Yifan Wang

Chinese technology companies soared in Tuesday morning trade, extending a recent rebound as cheap valuations continued to attract buying interest while a new game's approval offered a boost.

The Hang Seng TECH Index rose as much as 2.3%, with Kuaishou Technology leading the pack with an 8.9% jump.

The gain by the short-video platform operator, which competes with TikTok owner ByteDance Ltd., came as China approved a highly anticipated mobile game earlier than expected.

The mobile version of "League of Legends," developed by Tencent Holdings Ltd., has been widely anticipated by gamers and streaming hosts. The mobile title's release, expected on Sept. 15, should bring a wide range of new content on Kuaishou's platform and drive user engagement higher in the coming weeks, U.S. bank Jefferies said in a note.

Tencent shares climbed 2.6%. Meituan surged 5.1% and Alibaba Group Holding Ltd. added 1.3%.

China's internet-sector valuation has been rising in recent weeks, as cheap share prices and solid second-quarter earnings eased some investor concerns after stocks slumped earlier this year amid Beijing's tightening regulatory grip.

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

(END) Dow Jones Newswires

09-07-21 0011ET