* Hang Seng index ends up 1.96%
* China Enterprises index HSCE rises 2.55%
* Meituan, Alibaba lead gains; property sector stumbles
SHANGHAI, Oct 11 (Reuters) - Hong Kong shares rose to end at
a nearly four-week closing high as Alibaba and Meituan rallied,
with investors rushing to buy on bets that crackdowns against
tech giants are nearing an end.
** The Hang Seng Tech Index rose 1.96%, with
e-commerce giant Alibaba Group up 7.91% and
food-delivery company Meituan gaining 8.36%
** The Hang Seng China Enterprises index rose 2.55% to
** China's antitrust regulator fined Meituan 3.4 billion yuan
($527.4 million), a smaller than expected figure, for abusing
its dominant market position, the latest penalty in Beijing's
clampdown on online platforms.
** But analysts at Jefferies said that with the regulatory
overhang now removed, the long-term outlook for Meituan is
** Alibaba rose for a fourth successive session, after Daily
Journal Corp, chaired by Berkshire Hathaway Vice Chairman
Charlie Munger, boosted its holdings by 83% during the third
quarter, according to public disclosures.
** An index tracking the tech sector has dropped more
than 40% from the highest point this year on China's sweeping
crackdowns, but rose 3.17% on Monday.
** The energy sub-index rose 1.07%.
** But Lenovo Group Ltd saw its stock fall more than
13% on Monday, its biggest intraday decline in more than three
years, after the Chinese technology giant withdrew its
application for a 10 billion yuan ($1.55 billion) share listing
** Property and construction firms lagged the broader
index, falling 0.43% on the day after a developer asked to delay
a paper's maturity, as offshore bondholders of China Evergrande
Group awaited news of $148 million in looming debt
(Reporting by Chi Xue and Andrew Galbraith, Editing by Timothy