BEIJING: Hong Kong shares closed higher on Thursday, with heavyweight Tencent gaining the most thanks to a plan to distribute its JD.com stake as a dividend, while materials and energy stocks also jumped.
Extending gains from the previous session, the Hang Seng index rose 0.4% to 23,193.64 at the close of trade, while the China Enterprises Index gained 0.2% to 8,204.31 points.
Leading gains, the Hang Seng subindex tracking material shares rose 2.8% while the energy sector jumped 2.1%
The tech sector dipped as JD.com’s shares dropped 7% after the ecommerce company’s largest shareholder, Tencent Holdings Ltd, said it would give most of its $16.4 billion stake in JD to its own shareholders as a dividend.
Tencent jumped 4.2% and was the top gainer on the Hang Seng index.
Thursday was the benchmark index’s third straight day higher after signs of policy relaxation from Beijing boosted the property sector in recent sessions.
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