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.
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