Hong Kong Market ends higher

Hong Kong stock market finished volatile session higher on Monday, 09 August 2021, on tracking advances in the Mainland A-share market, with shares in financials being notable gainers and cancelling losses in technology stocks.

At closing bell, the benchmark Hang Seng Index advanced 0.4%, or 104 points, to 26,283.40. The Hang Seng China Enterprises Index added 0.44%, or 40.42 points, to 9,313.97.

Shares of Financial players advanced, with lender HSBC rising 1.4% to HK$43.80, while insurer AIA gained 1.1% to HK$93.15. China Construction Bank and ICBC both gained by more than 1.2%.

Technology stocks closed mixed amid concerns about regulatory clampdown as reports focused on poor market practices among Chinese technology companies. Alibaba dropped 2.5% to HK$188.70. Tencent climbed 1.7% to HK$461.60, rebounding from a 2% sell-off earlier.

Shares of semiconductor makers also fell on calming chip scarcity rumors. Hua Hong Semiconductor fell 5.7% to HK$51.40, while SMIC dropped 5% to HK$26.75.

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