Hang Seng Index followed the uptrend in the Asian region and leaped 344 pts at most to the peak of 24,046 today. It eventually finished at 23,998 pts, up 296 pts or 1.2%, setting a one-month high. Hang Seng China Enterprises Index rose 126 pts or 1.2% to 10,755. Market turnover rose to RMB82.936 billion.
A-share markets rallied today with the Shanghai Composite Index breaching above the 2,400 level. X ISHARES A50 (02823.HK) and CSOP A50 ETF (02822.HK) bounced 2.7% and 2.6% respectively. Mainland insurance stocks also outperformed. CHINA LIFE (02628.HK) and PING AN (02318.HK) jumped 2.4% and 2.2%.
CHINA MOBILE (00941.HK) led gainers, with a 2.6% surge to $96.5. TENCENT (00700.HK) advanced 1.4%. Both stocks contributed gains of 75 pts to the HSI.
HSBC HOLDINGS (00005.HK) underperformed the market and edged up only 0.5%. STANCHART (02888.HK) tumbled 3.4% further to over 5-year low.
As Shanghai Stock Exchange was said to conduct a rehearsal for the Stock Connect program tomorrow, HKEX (00388.HK) rallied 2%. Brokerage stocks HAITONG SEC (06837.HK) and CITIC SEC (06030.HK) soared over 3%. CHINA CINDA (01359.HK) leaped 4.9% and became the best performer among HSCEI constituents.
Gaming blue chips continued moving higher. GALAXY ENT (00027.HK) rocketed 5.2%. SANDS CHINA LTD (01928.HK) gained 3%. MGM CHINA (02282.HK) advanced 3.1% on better-than-expected quarterly results.
AAStocks Financial News
Web Site: www.aastocks.com