Hong Kong Stocks End Higher on Upbeat Earnings; Anhui Expressway Slides 4%

MT Newswires Live10-29

Hong Kong stocks closed higher on Tuesday after several constituents of the city's benchmark index reported better-than-expected earnings.

The Hang Seng Index rose 0.5%, or 101.78 points, to end at 20,701.14. The Hang Seng China Enterprises Index added 0.4%, or 26.31 points, to 7,417.53.

About 12 companies in the HSI have published quarterly results so far, recording an average of 14% annual profit growth, South China Morning Post reported, citing Bloomberg data.

HSI heavyweight HSBC (HKG:0005) posted a net profit of $6.1 billion for the September quarter, up 9% from a year ago, surpassing consensus estimates. The bank's shares closed 4% higher.

Meanwhile, Wuxi AppTec (HKG:2359), the parent of HSI member Wuxi Bio (HKG:2269), reported a Q3 revenue of 10.5 billion yuan, down 2% year over year but beat the expected 10 billion yuan.

In other corporate news, Hong Kong shares of Anhui Expressway (HKG:0995, SHA:600012) fell 4% after the freeway operator reported a 20% drop in attributable profit for the September quarter.

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