SHANGHAI: Hong Kong shares ended the week higher, led by tech stocks, after earnings release by e-commerce giants helped lift sentiment, while China stocks were roughly flat.
China’s e-commerce giant JD.COM beat profit forecasts in the second quarter, while Alibaba Group Holding missed market expectations for its revenue.
The Hang Seng Tech Index added 2.2%, with JD and Alibaba shares up by 8.9% and 4.8%, respectively.
China’s blue-chip CSI300 Index and the Shanghai Composite Index closed up 0.1%. Hong Kong benchmark Hang Seng Index was up 1.9%.
For the week, the CSI300 Index and the Hang Seng Index rose 0.4% and 2.0%, respectively.
Share prices of Chinese antimony producers jumped by up to 10% following Beijing’s decision to limit exports of strategic mineral of which it is the dominant supplier.
China will stick to a supportive monetary policy and maintain policy stability, its central bank governor Pan Gongsheng said in an interview with state news agency Xinhua on Thursday.
China’s financial sector sub-index rose 0.63%, while the consumer staples sector and the real estate index dropped 0.3% and 0.7%, respectively.
The smaller Shenzhen index ended down 0.3% and the start-up board ChiNext Composite index was weaker by 0.078%.
The Hang Seng China Enterprises index rose 2.1% to 6,161.9.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.64%, while Japan’s Nikkei index closed up 3.64%.
At 07:57, the yuan was quoted at 7.1727 per US dollar, 0.04% firmer than the previous close of 7.1754.
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