Saturday, June 19, 2021

Hong Kong stocks end higher ahead of China markets reopen

* Hang Seng index rises 1.10% to highest close since June 2018

* China Enterprises index HSCE rises 1.60%

Feb 17 (Reuters) – Hong Kong stocks ended higher on Wednesday, marking the seventh straight session of gains and extending a bull run ahead of the reopening of mainland markets after the Lunar New Year break, with sentiment lifted by optimism over global economic recovery.

** The Hang Seng index rose 1.10% to 31,084.94, the highest close since June 2018, while the China Enterprises Index increased 1.60% to 12,228.63.

** The Hang Seng Tech Index surged 2.34% and the Hang Seng sub-index tracking information technology firms climbed 1.88%.

** Brokers said an improving pandemic situation and expectations the bull run will continue when China markets reopen helped lift investor sentiment.

** China’s mainland markets are scheduled to reopen on Feb. 18.

** MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.59%, while Japan’s Nikkei slipped 0.58%.

** The Hong Kong’s Hang Seng Finance Index surged 1.37%, while Hang Seng sub-index tracking property firms slid 0.41%.

** The top gainer in the Hang Seng Index was AAC Technologies, which was up 7.11%, while the biggest percentage loser was Mengniu Dairy, which dropped 2.42%.

** The biggest gainer in Hang Seng Tech Index was Tongcheng-Elong Holdings, which soared 15.02%, while the top percentage loser was Hua Hong Semiconductor, down 6.52%. (Reporting by Donny Kwok; Editing by Subhranshu Sahu)


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