Hong Kong Shares Rise 1.4%, Led by Financial Stocks -- Market Talk

Dow Jones05-10

0154 GMT - Hong Kong's Hang Seng Index rises 1.4% to 18801.59, led by financial stocks. Stocks are likely rallying on better-than-expected China trade data, and positive sentiment in the property sector after a major city in China lifted all home purchase restrictions, a move that was stronger and earlier than expected, Sonija Li, Head of Retail Research at Maybank Investment Bank writes in a note. Among the gainers, Hong Kong Exchanges & Clearing rises 7.9%, China Construction Bank gains 4.4%, and ICBC is 3.4% higher. Among the decliners, Xinyi Glass declines 1.4%, Xinyi Solar is 1.0% lower and BYD sheds 1.1%. (kimberley.kao@wsj.com)

 

(END) Dow Jones Newswires

May 09, 2024 21:54 ET (01:54 GMT)

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