Hang Seng Index opened higher by 48 points at 22,664 before extending its rally, climbing as much as 418 points to reach an intraday high of 23,034. By late morning, the index was up 406 points, or 1.79%, at 23,022, with turnover on the main board totalling HK$1.168 billion. At 10.50am local time, the index was trading at 22,951.64, up 335.41 points or 1.48%.
Technology stocks led the charge, with Tencent rising 2.3%, Alibaba surging 4.6%, Meituan gaining 1.6%, Xiaomi climbing 5.9%, JD.com up 1%, and Kuaishou advancing 4.1%.
Financial stocks also supported the market's momentum, with HSBC Holdings up 1.6%, AIA Group gaining 1.1%, Ping An Insurance rising 0.6%, and Hong Kong Exchanges and Clearing climbing 1.1%.
The automotive sector posted robust gains, with BYD Co. advancing 4.5%, Geely Automobile rising 5%, and both XPeng Motors and Li Auto up 2.4%. NIO also added 1%.
Chinese telecom stocks continued their upward trajectory, with China Unicom gaining 1.1% and China Telecom rising 1.9%.
Semiconductor stocks performed well, with Semiconductor Manufacturing International Corp. (SMIC) edging up 0.3% and Hua Hong Semiconductor surging 3.6%.
Shares of Tam Jai International Co. soared by 62.2% after its controlling shareholder proposed a privatisation deal, following the resumption of trading.
Source: Dimsumdaily.HK
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of ...
The Hang Seng Index extended its rally for the third consecutive day in the latest trading session in Hong Kong on Wednesday (February 11). The index rose 0.3%, or 83.23 points, to close at 27,266.38,...
The Hang Seng continued to strengthen on Tuesday (February 10th), rising 156 points (0.6%) to close at 27,183. This marked a second consecutive day of gains, with most sectors contributing to the mark...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall St...
The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slig...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...