Hong Kong stocks close 0.72% higher

Written by admin on 30/07/2019 Categories: 苏州美睫

Hong Kong shares have risen 0.

苏州美睫

72 per cent, following a rally on Wall Street after data showed a strong pick-up in US consumer confidence.

The benchmark Hang Seng Index climbed 155.43 points on Wednesday to 21,887.75 on turnover of HK$73.89 billion ($A10.43 billion).

Traders took their lead from New York, where the three main indexes jumped after a closely watched survey showed confidence among American consumers surging.

The Conference Board’s index for March confidence came in at 82.3 – its highest since January 2008 – from 78.3 in February and far better than the 78.9 expected.

The Dow rose 0.56 per cent, the S&P 500 added 0.44 per cent and Nasdaq added 0.19 per cent.

In Hong Kong, banking giant ICBC rose 1.31 per cent, while HSBC added 0.58 per cent to HK$78.25.

CITIC Pacific added 4.80 per cent to $HK12.66 but internet firm Tencent eased 0.81 per cent to $HK554.

In China the benchmark Shanghai Composite Index slipped 0.18 per cent, or 3.64 points, to 2,063.67 – ending a three-session winning streak – on turnover of 80.5 billion yuan ($A14.22 billion).

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, rose 0.51 per cent, or 5.54 points, to 1,088.86 on turnover of 96.3 billion yuan.

While shares rose Monday and Tuesday on hopes for some government stimulus in response to another set of weak manufacturing data, there remain lingering concerns about the state of the economy.

The government pledged Tuesday to develop the nation’s capital markets, but a lack of details disappointed investors, they said. The State Council, or cabinet, suggested reforms to the mechanism for initial public offerings and more varieties of bonds.

“The measures offered only a framework so the market is waiting for more detailed policies,” Zheshang Securities analyst Zhang Yanbing told AFP.

Property developers fell on profit-taking after a run-up fuelled by an easing of financing for the sector.

China Vanke lost 1.6 per cent to 7.85 yuan and Gree Real Estate dropped 1.5 per cent to 9.06 yuan.

Shanghai based firms were also hit after enjoying recent gains. Shanghai Zhangjiang Hi-Tech Park Development fell 3.13 per cent to 7.12 yuan while Shanghai Jinqiao Export Processing Zone Development dropped 3.07 per cent to 11.07 yuan.

But healthcare-related stocks rose on hopes the government will invest more to deepen reforms in the sector.

Andong Health surged by its 10 per cent daily limit to 22.83 yuan and Topchoice Medical Investment gained 5.23 per cent to 46.67 yuan.

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