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Hong Kong shares end higher on tech, financial rally

Reuters2021-07-13

* Hang Seng index ends up 1.63% China Enterprises index HSCE rises 1.69%

* Tencent rises 3.93% after Sogou deal approved

* HSBC jumps after Bank of England scraps dividend curbs

July 13 (Reuters) - Hong Kong shares rose on Tuesday as high tech and financials stocks rallied, after Chinese regulators approved a deal involving index heavyweight Tencent Holdings and after the Bank of England scrapped dividend curbs on lenders including HSBC.

** At the close of trade, the Hang Seng index was up 448.17 points, or 1.63%, at 27,963.41. The Hang Seng China Enterprises index rose 1.69% to 10,113.32.

** Tech firms in Hong Kong drove gains, with the sub-index of the Hang Seng tracking the IT sector rising 3.3% and the Hang Seng Tech index up 1.94%.

** Tencent Holdings Ltd jumped 3.93% after China's antitrust regulator on Tuesday approved its plan to take the country's no.3 search engine Sogou Inc private in a $3.5 billion deal.

** The financial sector also gained, rising 1.54% with Hong Kong shares of HSBC Holdings Plc ending 2.62% higher after the Bank of England on Tuesday scrapped pandemic-era curbs on dividends from top lenders with immediate effect.

** Sentiment was also bolstered by customs data showing that China's exports grew much faster than expected in June, and import growth also beat expectations.

** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd , which gained 5.18%, while the biggest loser was WuXi Biologics (Cayman) Inc, which fell 3.1%.

** China's main Shanghai Composite index closed up 0.53% at 3,566.52 points, while the blue-chip CSI300 index ended up 0.18%.

** The yuan was quoted at 6.4655 per U.S. dollar, 0.17% firmer than the previous close of 6.4762.

** The top gainers among H-shares were Kuaishou Technology up 5.69%, followed by Geely Automobile Holdings Ltd, gaining 5.18% and Alibaba Group Holding Ltd, up by 3.95%.

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Comment10

  • Johnnyfeifei
    ·2021-07-14
    Nice
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  • AhTan7
    ·2021-07-13
    Ok
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  • Starbucks
    ·2021-07-13
    Wow! 加油![Call] [Strong] [Happy] [Happy] 
    Reply
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    • Nobi
      riding the China bandwagon tgt with my sovereign fund company [开心]
      2021-07-13
      Reply
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  • Dave Fu
    ·2021-07-13
    Keep going :)
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  • Tianlin
    ·2021-07-13
    yesss
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  • Jaske123
    ·2021-07-13
    Ok
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  • Cherry16
    ·2021-07-13
    Cool
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    • Karxun
      UpVote
      2021-07-13
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  • Putu
    ·2021-07-13
    Ok
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  • KeithKoh
    ·2021-07-13
    Let them fly
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  • Hodl
    ·2021-07-13
    [Surprised] 
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