Tech, real estate stocks push Hong Kong market

Hong Kong shares jumped to their highest level since July on Wednesday, as China’s stock market extended gains as expectations of a post-Covid recovery and supportive policies for the property and technology sectors boosted the market.

The CSI 300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed up 0.13%, while the Shanghai index rose 0.22%. Hong Kong’s Hang Seng Index closed up 3.22%.

The yuan hovered at a four-month high against the dollar on expectations of further support to revive the economy, as well as seasonal increases in demand.

“Investor confidence is returning,” said Linus Yip, chief strategist at First Shanghai Securities. “They are betting on highs with prospects for normalization and recovery. This feeling has also benefited most sectors.”

. In TOKYO, the Nikkei index fell by 1.45% to 25,716 points.

. In HONG KONG, the HANG SENG index rose by 3.22% to 20,793 points.

. In SHANGHAI, the SSEC index gained 0.22% to 3,123 points.

. The CSI300 index, which collects the largest companies listed in SHANGHAI and SHENZHEN, advanced by 0.13%, to 3,892 points.

. In SEOUL, the KOSPI index appreciated by 1.68%, to 2,255 points.

. In TAIWAN, the TAIEX index fell 0.18% to 14,199 points.

. In SINGAPORE, the STRAITS TIMES index lost 0.10% to 3,242 points.

. In SYDNEY, the S&P/ASX 200 index advanced 1.63%, to 7,059 points.

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.