Hong Kong stocks rise slightly on last full trading day of year



Hong Kong stocks wavered on Tuesday, with the benchmark hovering near a two-week low as trading waned towards the end of year.

The Hang Seng Index rose 0.2 per cent to 25,698.37 as of 10.10am local time. The Hang Seng Tech Index gained 1 per cent.

On the mainland, the CSI 300 Index climbed 0.1 per cent and the Shanghai Composite Index added 0.1 per cent.

Search engine operator Baidu surged 6 per cent to HK$126.30, and chipmaker Semiconductor Manufacturing International Corp rallied 2.4 per cent to HK$71.25. Alibaba Group Holding gained 0.7 per cent to HK$144.30. On the downside, Pop Mart International Group slid 3.8 per cent to HK$192, and Sino Biopharmaceutical lost 1.8 per cent to HK$6.18.

Trading was light before the New Year’s Day holiday. Volumes on the city’s exchange were about 30 per cent below the 100-day average for this time of the day, according to Bloomberg data. Hong Kong’s markets will be closed for the afternoon session on Wednesday and for a full day on Thursday.

Six companies debuted on the Hong Kong stock exchange on Tuesday, highlighting one of the busiest days for initial public offerings (IPOs) on the city’s exchange.
  • Related Posts

    Hong Kong’s property deals exceed 7,000 for the sixth straight month in March

    Hong Kong’s property transactions crossed 7,000 for the sixth consecutive month in March – the first time in four years that monthly volumes stayed above this level – amid rising…

    Continue reading
    China’s JD.com returns to dim sum bond market with 10b yuan offering

    Chinese e-commerce major JD.com has priced a 10 billion yuan (US$1.5 billion) dual-tranche offshore bond offering, as issuers from mainland China return to the currency amid improving funding conditions. The…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *