Hong Kong Market closed up on bargain buying

Hong Kong share market closed slight higher on Friday, 26 April 2019, as investors chased for bottom fishing late afternoon after five days of consecutive decline. The blue-chip index opened down 36 points to 29,513 and briefly dipped 45 points to a day low of 29,504. But it then recovered all its losses and rose 123 points at one stage to a day high of 29,672 on the rally of China Mobile and HKEX. At closing bell, the Hang Seng Index rose 0.2%, or 55.21 points, to 29,605.01. The Hang Seng China Enterprises Index added 80.08%, or 8.83 points, to 11,510.87.

Blue chips were mostly higher. HSBC (00005) edged up 0.1% to HK$67. HKEX (00388) gained 0.9% to HK$272.8. Tencent (00700) nudged up 0.3% to HK$384. China Mobile (00941) put on 1.2% to HK$75.05. AIA (01299) inched up 0.1% to HK$79.9.

Shares of handset components suppliers rebounded. AAC Technologies (02018) jumped 2.6% to HK$53.7. Sunny Optical (02382) added 0.8% to HK$97.3. BYD Electronic (00285) shot up 1.6% to HK$13.62. Truly International (00732) rose 3.2% to HK$1.3. FIT Hon Teng (06088) added 1% to HK$4.14.

Shares of Macau gaming counters saw strong buying orders ahead of Macau gaming regulator release of April's gross gaming revenue data next week. Wynn Macau (01128) put on 3.8% to HK$22.05. Galaxy Entertainment (00027) rose 1.3% to HK$58.85. Sands China (01928) gained 1.9% to HK$42.85. SJM Holdings (00880) put on 1.4% to HK$9.28. MGM China (02282) was up 0.1% to HK$15.98. Melco International Development (00200) unchanged at HK$18.9.

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