HONG KONG: Hong Kong shares jumped on Friday to their best session in two weeks, with sports brands standing out as the Beijing Winter Olympics opened, while markets played catch-up with a Wall Street rally after the three-day Lunar New Year holidays.
** At the close of trade, the Hang Seng index was up 771.03 points, or 3.2%, at 24,573.29. The Hang Seng China Enterprises index rose 2.8% to 8,584.37. China markets are closed for the week and will resume trade on Monday.
** Traders said the Beijing Winter Olympics provided a stimulus to consumption shares, particularly China's sports brands.
** Shares of ANTA Sports rose as much as 6.9% to HK$124.50, their highest since Dec. 15, while those of smaller rival Li Ning jumped 8.2% to HK$81.55.
** Hong Kong shares of HSBC and Standard Chartered jump to two-year highs after the Bank of England (BoE) hikes interest rates to fight inflation.
** Hong Kong shares of electric vehicle (EV) makers Li Auto, Xpeng, BYD shone after strong January performance.
** The sub-index of the Hang Seng tracking energy shares rose 2.4%, the IT sector gained 2.67%, the Hang Seng Tech Index surged 3.05%, the financial sector ended 3.49% higher and the property sector was up 2.11%.
** The top gainer on the Hang Seng was Haidilao International , which gained 8.22%, while the biggest loser was WH Group, which fell 0.96%.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.04%, while Japan's Nikkei index closed up 0.73%.
** The top gainers among H-shares were Haidilao, followed by Li Ning Co Ltd, gaining 7.63%, and BYD Co Ltd, up by 7.05%.
** The three biggest H-shares percentage decliners were Innovent Biologics, which was down 4.43%, ENN Energy, which fell 0.32%, and China Gas, down by 0.15%.
Comments
Comments are closed.