Hong Kong stocks hit 9-month high on lunar new year rush

Reuters2023-01-26

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

Mainland China markets are due to resume on Monday.

** The benchmark Hang Seng Index surged to as high as 22,475.11, the highest level since April 4, 2022, while the Chinese H-shares Hang Seng China Enterprises Index rose 2.2% to 7,651.12, the highest since July 5.

** At the midday break, Hang Seng Index rose 1.7% to 22,426.13 and the Hang Seng China Enterprises Index was up 2.1% at 7,636.90.

** Sands China leads rise in Macau casinos stocks on Lunar New Year rush.

** Around the region, MSCI's Asia ex-Japan stock index

was firmer by 0.85% while Japan's Nikkei index

was down 0.31%.

** The top gainers among H-shares were Li Auto Inc

, up 10.69%, followed by Xiaomi Corp , gaining 9.27%, and Sunny Optical Technology Group Co Ltd , up by 6.64%.

** The three biggest H-shares percentage decliners were China Feihe Ltd , which has fallen 2.39%, CSPC Pharmaceutical Group Ltd , which has lost 1.28%, and Sino Biopharmaceutical Ltd , down by 0.83%.

** Hang Seng TECH Index jumped 3.2%, the IT sector

rose 2.4% and the Hang Seng Mainland Properties Index

surged 3.1%

** The top gainer on the Hang Seng was Xiaomi Corp

, up 9.27%, while the biggest loser was Orient Overseas (International) Ltd , which was down 3.98%.

(Reporting by Donny Kwok; Editing by Krishna Chandra Eluri)

((donny.kwok@thomsonreuters.com; +852 2843 6470;))

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