Hong Kong stocks end at over 10-month high as Chinese New Year cheers

HONG Kong shares jumped on Thursday (Jan 26), marking a gain on the first day of trade in the year of the rabbit, with local stock catching up with gains in other markets as trade resumed after the three-day Chinese New Year holiday.

Mainland China markets are due to resume on Monday.

The benchmark Hang Seng Index surged 522.13 points, or 2.37 per cent, to close at 22,566.78, the highest since Mar 2, 2022, while the Chinese H-shares Hang Seng China Enterprises Index rose 2.98 per cent to end at 7,706.72, the highest since July 5.

Melco International led a slide in Macau casinos stocks, falling as much as 7.1 per cent to HK$10.22 in its biggest daily pct decline since Dec 19.

Hong Kong shares of China Tourism Group Duty Free and Prada jumped on consumption optimism due to mainland tourism

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.17 per cent, while Japan’s Nikkei index closed down 0.12 per cent.

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The top gainer on the Hang Seng Index was Xiaomi, which gained 12.48 per cent, while the biggest loser was Orient Overseas (International), which fell 2.63 per cent.

The top gainer among H-shares were Xiaomi while the biggest H-shares percentage decliner was China Feihe, which was down 1.76 per cent

Hang Seng TECH Index jumped 4.3 per cent, the IT sector surged 3.2 per cent and the Hang Seng Mainland Properties Index soared 4.5 per cent. REUTERS