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Hong Kong Market closed up on bargain buying

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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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 26 2019. 22:37 IST