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Hong Kong stocks climb as Santa rally extends for a second day

Hong Kong stocks rose for a second day on Tuesday, buoyed by the festive mood and investor optimism that the gains will extend into next year.

The Hang Seng Index rose 0.2 per cent to 25,848.99 at the noon trading break, adding to the 0.2 per cent gain in the previous session. The Hang Seng Tech Index fell 0.4 per cent. On the mainland, the CSI 300 Index climbed 0.5 per cent and the Shanghai Composite Index gained 0.3 per cent.

Leading the pack, logistics firm ZTO Express Cayman advanced 0.6 per cent to HK$166.10, and Hong Kong Exchanges & Clearing rose 0.7 per cent to HK$410. E-commerce heavyweight Alibaba Group Holding strengthened 0.7 per cent to HK$147.40 and peer JD.com climbed 1 per cent to HK$113.40. Chipmaker SMIC increased 0.5 per cent to HK$69.25 and local property developer Sun Hung Kai Properties added 1.4 per cent to HK$96.90.

Short-video sharing platform Kuaishou Technology slumped 3.6 per cent to HK$64.30 after it said it suffered a cyberattack. WeChat operator Tencent Holdings retreated 1.5 per cent to HK$605.50, while blind-box toymaker Pop Mart lost 0.5 per cent to HK$200.80 and travel-booking agency Trip.com dropped 1.4 per cent to HK$567.

China Vanke’s creditors agreed to extend its bond repayment grace period to January 28. Photo: Shutterstock
China Vanke’s creditors agreed to extend its bond repayment grace period to January 28. Photo: Shutterstock

Distressed mainland Chinese developer China Vanke lost 2 per cent to HK$3.47, after creditors agreed to extend its bond grace period to January 28, but did not pass a proposal to extend the principal repayment by a year.


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