Hong Kong Market closes at four-week high

Hong Kong stock market rose for third session in row on Tuesday, 20 April 2021, lifting the benchmark Hang Seng Index to a four-week high, after reports that mainland investors have plowed HK$26.1 billion in net buying of Hong Kong-listed stocks so far in April after withdrawing HK$12.7 billion in March.

At closing bell, the benchmark Hang Seng Index added 0.1%, or 29.58 points, to 29,135.73, the highest level since March 2021. The Hang Seng China Enterprises Index edged down 0.06%, or 7.08 points, to 11,085.87.

Meituan jumped 1.5% to HK$293.60 after disclosing a plan to sell shares and convertible bonds worth US$9.6 billion to fund research and development in autonomous delivery vehicles, drone delivery and other cutting-edge technology.

 

Alibaba dropped 1.6% to HK$228.20 after Shanghai-listed Minmetals Development said after market close on Monday that the Chinese government had started an investigation into the company's joint-venture with the e-commerce group, the owner of this newspaper.

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