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Hong Kong Market extends gain

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The Hong Kong stock market climbed for a fourth consecutive session on Wednesday, 07 October 2020, shrugging off Trump's decision to suspend stimulus talks, with shares related to Apple and tech being notable gainers.

At closing bell, the benchmark Hang Seng Index added 1.09%, or 262.21 points, to 24,242.86. The Hang Seng China Enterprises Index rose 0.97%, or 92.80 points, to 9,629.29.

Shares related to Apple rose, after the US tech giant announced on Tuesday that it would hold its largest product launch of the year on October 13. AAC Technology, which makes miniaturized components used in iPhones, iPads and watches, rose 3.3%.

Sunny Optical Technology, which produces smartphone lenses and is expected to become an Apple supplier, led blue chips with a 5.1% increase. Handset assembler BYD Electronics rose by 2.3%.

HengTen Networks, a manufacturer of photographic and electrical products, led gains on the tech benchmark with an 8.5% increase. Semiconductor equipment manufacturer ASM Pacific rose 6.3%, while China's top chip maker SMIC added 2.5%.

Shares of Chinese developer Greentown China surged 12.1%. The company reported that sales in September reached around 20.1 billion yuan (US$3 billion), up 69% from the same period last month, in a filing to the exchange late on Tuesday.

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

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First Published: Wed, October 07 2020. 17:53 IST
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