HONG KONG: Hong Kong stocks inched up on Tuesday, tracking gains in mainland markets after China affirmed flexible policies next year to support growth, and also led by gains in property stocks. The Hang Seng index rose 0.2% to 23,280.56 at the close of trade, extending gains for the fifth straight session, while the Hang Seng China Enterprises Index slid 0.1% to 8,194.45 points.
The sub-index of the Hang Seng tracking energy shares dipped 0.2% and the IT sector fell 1.1%, while the financial sector and the property sector ended up 0.8% and 1.34%, respectively.
China will keep its monetary policy flexible next year, step up oversight of capital and platform companies, and steadily implement a management system for real estate financing, the central bank said on Monday.
On the same day, the finance ministry said China will roll out fiscal policies proactively to stabilise economic growth, vowing that the impact of the drive would be felt earlier than usual.
The top gainer on the Hang Seng was Hang Lung Properties Ltd, which gained 4.1%, while the biggest loser was Geely Automobile Holdings Ltd, which fell 3.87%.