Hong Kong stocks gain as material firms shine

Reuters2021-02-08

Feb 8 (Reuters) - Hong Kong stocks eked out gains on Monday, underpinned by material firms, after China reported zero new local cases of the novel coronavirus and as mainland buying continued.

The Hang Seng index gained 0.1% at 29,319.47, while the China Enterprises Index was unchanged at 11,560.01 points.

China reported no new locally transmitted mainland COVID-19 case for the first time in nearly two months, official data showed on Monday, adding to signs that it has managed to stamp out the latest wave of the disease.

Mainland investors continued to pour in, buying net of more than HK$12 billion worth of Hong Kong stocks on Monday via the Stock Connect, according to Refinitiv data.

The southbound legs of the Stock Connect linking mainland and Hong Kong will halt from Feb. 9 through Feb. 17 during China's Lunar New Year holiday, according to Shanghai and Shenzhen stock exchanges.

Market participants looked past the country's market regulator releasing new anti-monopoly guidelines on Sunday that targeted internet platforms.

The Hang Seng tech index, which tracks many of China's tech giants, managed to end 0.4% higher.

Around the region, MSCI's Asia ex-Japan stock index firmed 0.58%, while Japan's Nikkei index closed up 2.12%.

The yuan was quoted at 6.457 per U.S. dollar at 08:30 GMT, 0.15% higher than the previous close of 6.4664.

At close, China's A-shares were trading at a premium of 36.42% over Hong Kong-listed H-shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Zacksss
    2021-02-09
    Zacksss
    Wooww
  • NGJA0003
    2021-02-09
    NGJA0003
    Get my post trending????
  • rofl
    2021-02-09
    rofl
    This is a comment very very comment thank you 
  • Huat99
    2021-02-09
    Huat99
    read
  • Albaakbert
    2021-02-09
    Albaakbert
    hongkong hongkong finance matters
  • hantzec
    2021-02-09
    hantzec
    ?
Leave a comment
10