Hang Seng Index opened up 54 pts this morning on a better-than-expected Mainland March official manufacturing PMI of 50.1. It breached above the level of 25,000, with a gain of 198 pts at most, closing the market at 25,082, up 181 pts or 0.7%. Hang Seng China Enterprises Index advanced 191 pts or 1.5% to 12,537. The Hong Kong Growth Enterprise Market (GEM) Index surged 4.9% to 529 at close. The turnover lowered to $110.326 billion.
Mainland insurers fared well. PING AN (02318.HK) and CHINA LIFE (02628.HK) inched up 1.3% and 2.4%, while NCI (01336.HK) and PICC P&C (02328.HK) climbed 2.3% and 2.5% respectively.
A number of GEM stocks were volatile, with ZHEDA LANDE (08106.HK) escalating for 103%. After trade resumption, KATE CHINA (08125.HK) rocketed 87.3% and hit the intraday high at $6.4. CHINA BINARY (08255.HK) jumped nearly 50%.
Chinese railway, infrastructure stocks headed north, with CHINA COMM CONS (01800.HK), CHINA RAILWAY (00390.HK) and CHINA RAIL CONS (01186.HK) lifting for 8.8%, 8.1% and 8.5%.
Amid investors' ongoing expectations that an injection of southbound capital into the market and the merits of Shenzhen-Hong Kong Stock Connect, HKEX (00388.HK) elevated 2.9%. HSBC HOLDINGS (00005.HK) bucked the trend and receded 0.2%. CHINA MOBILE (00941.HK) edged up 0.2%.
In addition, AID PARTNERS (08088.HK)'s share price jumped 12% after reported that the CEO intends to invest in ATV. HKTV (01137.HK) denied in a statement that its chairman Ricky Wong did not enter into any agreement on the acquisition of ATV's equity interest. HKTV's stock traded at a narrow range after leaping 23.8% at open and closed at 9.1% higher. I-CABLE COMM (01097.HK) also soared 7.2%, while TVB (00511.HK) added 0.8%.
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