Hong Kong Stocks snap three-day sell-off

The Hong Kong stock market closed comfortably higher after a three-day sell-off on Thursday, 20 April 2017, as investors chased for bottom fishing on recently battered stocks after China announced fresh tax cuts. However, market topside capped amid lingering geopolitical concerns and worries about the future of Donald Trump's huge stimulus programme. The Hang Seng Index ended 0.97 per cent, or 231.10 points, higher at 24056.98. The China Enterprises Index gained 0.7 percent to 10,056.17. Turnover decreased to HK$67.7 billion from HK$72.2 billion on Wednesday. Thirty-nine stocks rose among the 50 blue chips, and nine fell, with one stock remain steady.

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