Hong Kong Stocks end higher

Hong Kong stock market finished session higher on Tuesday, 23 February 2021, helped by gains in financials, oil producers and property developers stocks on outlook for a faster economic recovery. At closing bell, the benchmark Hang Seng Index inclined 1.03%, or 312.81 points, to 30,632.64. The Hang Seng China Enterprises Index added 0.13%, or 15.95 points, to 11,909.63.

HSBC rose as much as 6.5 per cent after the lender recommended a bigger than expected dividend payout in its latest earnings report. The bank has proposed a US$0.15 dividend per share, resuming the payout that was halted in April to preserve cash during the Covid-19 crisis.

CNOOC and New World Development rose by at least 3.4 per cent, as prices from crude oil to copper and aluminium extended their recent advances on growth reflation plays.

Galaxy Entertainment Group surged to a record high of HK$78.20 and Sands China climbed 7.5 per cent, on report of strong rebound in gaming revenue during the Chinese New Year.

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