Hong Kong Market extends gain on earnings

Hong Kong stock market finished session higher on Friday, 23 April 2021, as investors continued hunting for risk assets amid better corporate earnings and signs of inflows from Chinese onshore traders through the Stock Connect scheme.

At closing bell, the benchmark Hang Seng Index advanced 1.12%, or 323.41 points, to 29,078.75. The Hang Seng China Enterprises Index increased 1.18%, or 128.72 points, to 11,067.84.

Mainland investors has bought combined HK$39.6 billion worth of Hong Kong-listed stocks so far this month, reversing total net selling of HK$12.7 billion in March.

Technology stocks rose, with Meituan, China's biggest online food delivery platform, surging 4.9% to HK$306.40. Alibaba Health Information Technology rallied 5.3% to HK$23.80 and Wuxi Biologics advanced 4.4% to HK$115.

 

Shares of Ping An jumped 1% to HK$87.10 after posting a 4.5% increase in first-quarter income.

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