Hong Kong: Market gains 1.1%

Hong Kong stock market finished session higher on Thursday, 09 December 2021, as investors appetite for risk assets continued after preliminary laboratory studies showed the Covid-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant. Meanwhile, sentiments also boosted up on hopes of more policy easing to support from government to support the faltering economy after latest data showed China's factory-gate inflation slowed last month from a 26-year high.

At closing bell, the benchmark Hang Seng Index rose 1.08%, or 257.99 points, to 24,254.86. The Hang Seng China Enterprises Index added 1.58%, or 4.22 points, to 8,522.90.

 

Shares of Hong Kong-listed major Chinese tech companies advanced. Shares of Alibaba rose 2.3%, Baidu advanced 1.5%, Meituan added 0.7% and Tencent was up 1.2%. Alibaba Health Information Technology surged 6.4%.

Property developers also closed up. Country Garden Holdings and Longfor Group appreciated at least 2.9%, leading the pack among mainland Chinese developers.

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