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HSI Upswing Sharpens to 400Pts+ to 4.5Yrs High; Heavyweight Financials, 3 Oils, HK Developers, CN Telecoms Lead Pack; Gold Miners Surge with Gold Prices
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Hong Kong bourse opened higher, as the HSI opened up 198 points or 0.7% at 27,325. The early session saw gains widen, with the benchmark index mounting 450 points to peak at 27,577, marking the highest level since July 2021, approximately four and a half years ago. The index last printed at 27,562, up 435 points or 1.6%, with a turnover of HKD145.929 billion. Blockbuster financials had a good run, with HSBC HOLDINGS (00005.HK) soaring 2.5% to HKD137.9, reaching a historical high after excluding dividend, with a turnover of HKD1.01 billion and a market cap surpassing USD300 billion. BOC HONG KONG (02388.HK) rose 1.6% to HKD40.98, the highest since May 2018, with a turnover of HKD245 million. STANCHART (02888.HK) surpassed HKD200 for the first time since early 2013, and was last at HKD201.8, up 2.2%, with a turnover of HKD88.671 million. Heavyweight Chinese banks also ascended, with ICBC (01398.HK), BANK OF CHINA (03988.HK), and CCB (00939.HK) up 1.9-2.5%. CHINA LIFE (02628.HK) jumped up 2.6% to HKD34.98, the highest since mid-2015. PING AN (02318.HK) also added 1.3%. AIA (01299.HK) peaked at HKD88.2, the highest since March 2023, and was last at HKD88, up about 1.8%, with a turnover of HKD1.184 billion. HKEX (00388.HK) also lifted 0.6%. The three major Chinese telecoms, which have been weak recently, rebounded with the market, with CHINA TELECOM (00728.HK) and CHINA UNICOM (00762.HK) leaping 3.9% and 3.8%, respectively, and CHINA MOBILE (00941.HK) soaring 1.5%. The "three oils", PETROCHINA (00857.HK), CNOOC (00883.HK), and SINOPEC CORP (00386.HK), also rallied 3.6-4%. Data from the Rating and Valuation Department showed that Hong Kong's private residential price index hiked for seven straight months last December, reaching a 1.5-year high. Local real estate stocks maintained their robustness, with SHK PPT (00016.HK) and HENDERSON LAND (00012.HK) surging 3-3.5%. SINO LAND (00083.HK) and CK ASSET (01113.HK) climbed 1.6-2%, while NEW WORLD DEV (00017.HK) held sturdy. International gold prices hit a peak, shoring up gold miners, with ZIJIN MINING (02899.HK) and ZIJIN GOLD INTL (02259.HK) each adding over 1%. LINGBAO GOLD (03330.HK), TONGGUAN GOLD (00340.HK), ZHAOJIN MINING (01818.HK), SD GOLD (01787.HK) spiked 4-5.6%. CHIFENG GOLD (06693.HK) shot up 7%, and WANGUO GOLD GP (03939.HK) rocketed 8.9%. AASTOCKS Financial News Website: www.aastocks.com |
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