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Hong Kong: Stocks hit fresh decade-peak on strong China inflation data
[HONG KONG] Hong Kong stocks hit another decade-peak on Thursday, as index heavyweight Tencent smashed records again, with investor sentiment underpinned by China's strong inflation data that pointed to economic resilience.
The Hang Seng index rose 0.8 per cent to 29,136.57, while the China Enterprises Index jumped 1.5 per cent to 11,744.54 points.
China's producer prices were surprisingly strong in October, while consumer inflation picked up pace, suggesting the economy remains robust, easing market concerns of a slowdown.
Most sectors rose in Hong Kong, with energy, finance and IT shares leading the gain.
Chinese tech giant Tencent Holdings rose 0.3 per cent to a fresh record, after news it had taken a 12 per cent stake in Snapchat.