Hong Kong Market extends gains

Hong Kong stock market finished higher for a second day on Thursday, 24 June 2021, as investors pick up beaten-down stocks, with energy and IT firms stocks being notable gainers.

At closing bell, the benchmark Hang Seng Index advanced 0.23%, or 65.39 points, to 28,882.46. The Hang Seng China Enterprises Index added 0.03%, or 3.40 points, to 10,677.31.

The sub-index of the Hang Seng tracking the commerce & industry sector added 0.46% and the finance sector added 0.01%, while utilities sector fell 0.16% and the properties sector shed 0.19%.

Shares of China's property developer Evergrande Group closed up 4.2%, after the company said it had arranged its own funds of HK$13.6 billion to repay bonds due on Monday.

 

Shares of Xinyi Solar jumped 3.1%, as investors bet it will benefit from the Biden administration's plans to sanction rival solar products made in the Xinjiang autonomous region.

GCL New Energy Holdings shares lost 1.9%, after the U.S. banned imports of solar panel material from Chinese company.

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