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Ktkw
2023-01-20

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Alibaba Shares Advance Over 3%: Hong Kong Stocks Rise to 6-Month High

China’s recovery may have already started in December and the magnitude is likely to be stronger tha

Alibaba Shares Advance Over 3%: Hong Kong Stocks Rise to 6-Month High

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Ktkw
·2023-01-20
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The Hang Seng Tech Index advanced 0.9 per cent and the Shanghai Composite Index added 0.6 per cent.</p><p>Alibaba Group Holding advanced 3.12 per cent and Tencent Holdings added 1.52 per cent. CNOOC gained 3 per cent to HK$11.10 and PetroChina added 2.6 per cent to HK$3.98 after the two Chinese oil producers projected higher profits for last year.</p><p><img src=\"https://static.tigerbbs.com/2dc348a519afb801b0f5edd6c65d625f\" tg-width=\"468\" tg-height=\"607\" width=\"100%\" height=\"auto\"/></p><p>Optimism has been growing that China’s Covid-19 infections have already peaked after its abrupt lifting of all pandemic restrictions last month. 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The Hang Seng Tech Index advanced 0.9 per cent and the Shanghai Composite Index added 0.6 per cent.Alibaba Group Holding advanced 3.12 per cent and Tencent Holdings added 1.52 per cent. CNOOC gained 3 per cent to HK$11.10 and PetroChina added 2.6 per cent to HK$3.98 after the two Chinese oil producers projected higher profits for last year.Optimism has been growing that China’s Covid-19 infections have already peaked after its abrupt lifting of all pandemic restrictions last month. 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