Hong Kong: Stocks end higher as healthcare, industrial firms rebound

[HONG KONG] Hong Kong stocks closed higher on Monday, led by a rebound in healthcare and industrial firms, but big tech names faltered amid lingering regulatory concerns that curbed gains in the market.

The Hang Seng index rose 0.5 per cent to 29,106.15, while the China Enterprises Index gained 0.6 per cent to 11,092.95.

Leading the gains, the Hang Seng healthcare index and the Hang Seng industrials index added 3.1 per cent and 2.2 per cent, respectively, as investors cheered China's solid economic growth in the first quarter.

China's economic recovery quickened sharply in the first quarter to record growth of 18.3 per cent from last year's deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms.

However, tech giants weakened, with Alibaba losing 1.5 per cent and pushing the Hang Seng IT index 0.1 per cent lower.

REUTERS