Hong Kong Stock Market Summary

Hong Kong stocks advanced, as improving manufacturing data in Europe and China boosted investors’ confidence. The HSI closed at 20,739, up 406. The market turnover reached HK$75.2bn. China announced No.1 Central Document on Rural issues, focusing on agricultural technology. FIRST TRACTOR (38) rose 3.3% to HK$8.69. Other agricultural related stocks gained as well. CHINA XLX FERT (1866) and CHINA AGROTECH (1073) jumped 8% and 3.7% respectively, to HK$2.16 and HK$0.42. On the other hand, SMARTONE TELECOMMUNICATIONS (315) decided to put an end to its unlimited data plan, leading the stock price to surge 13.9%, closing at HK$15.26.

Profit taking may be seen at current stage. The HSI may find its resistance at 21,000.