Hong Kong stocks rose on Friday, on track for the third straight session of gain, with investors accumulating shares ahead of the reopening of China markets next week after the week-long Lunar New Year holidays.
Hong Kong stocks retreat at open
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Traders said investors were betting for a strong start, awaiting Chinese authorities’ moves to support the struggling stock market.
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Mainland China’s financial markets are closed through the week for Lunar New Year.
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By lunchbreak, the Hang Seng index was up 297.70 points or 1.87% at 16,242.33. The Hang Seng China Enterprises index rose 2.05% to 5,521.78.
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The sub-index of the Hang Seng tracking energy shares rose 1.1%, while the technology sector surged 2.69%, the financial sector climbed 0.97% and the mainland property index jumped 4.27%.
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The top gainer on the Hang Seng was WuXi Biologics , which gained 12.45%, while the biggest loser was Techtronic Industries, which fell 0.36%.
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Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.71%, while Japan’s Nikkei index was up 1.56%.
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The top gainers among H-shares were ENN Energy, up 7.73%, followed by Xpeng Inc, gaining 6.36%, and Longfor Group, up by 6.35%.
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The three biggest H-shares percentage decliners were China Shenhua Energy, which was down 0.17%, NetEase Inc, which fell 0.47%, and Tencent, down by 0.49%.
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