Hong Kong Market extends gain

Hong Kong share market finished session firmly in positive territory on Thursday, 24 November 2022, registering second day of winning streak, as risk sentiment remained upbeat on following the broadly positive cues from Wall Street overnight, amid hopes for a slower pace of interest rate hikes by the U.S. Federal Reserve.

Also supported sentiment was Beijing rolled out a series of policies to support the troubled property sector and speculation that government would cut banks' reserve requirement ratio (RRR) to aid the economy.

At closing bell, the benchmark Hang Seng Index added 137.09 points, or 0.78%, to 17,660.90. The Hang Seng China Enterprises Index rose 47.24 points, or 0.79%, to 5,992.35.

Among blue chips, Country Garden rose 20% to HK$2.83, while Longfor Group surged 12% to HK$21.05. HSBC gained 1.8% to HK$46, and Hong Kong Exchanges & Clearing rose 1% to HK$291.40.

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