Hong Kong stocks extended their winning streak for a sixth straight day on Wednesday, with the benchmark Hang Seng Index skyrocketing nearly 700 points at its peak in the morning to 27,827, its highest level in more than four and a half years.

The rally was led by the technology sector. Chinese mainland giant Tencent rose 1.25 percent to HK$607 per share, while Alibaba advanced 2.85 percent to HK$169.90.

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Energy and telecom stocks also saw robust performances, with China Oilfield Services increasing almost five percent, and China Telecom Corp gaining 6.28 percent.

Newly listed Busy Ming Group, one of the mainland’s largest snack chains, made a strong debut, soaring nearly 70 percent to HK$400.0 per share. 

Hong Kong's two other main indices show an uptrend as well. The Hang Seng China Enterprises Index — a barometer of Chinese mainland companies — was up 2.89 percent to 9,512.24 points, while the city’s technology stock gauge — the Hang Seng Tech Index — rose 2.53 percent to 5,900.16 points.

Contact the writer at gabylin@chinadailyhk.com