Hong Kong Market rebounds on bargain hunting

Hong Kong stock market finished session modest higher on Thursday, 25 November 2021, as investors chased for bargain hunting on recently battered stocks, with shares of technology and private education being notable gainers.

At closing bell, the benchmark Hang Seng Index advanced 0.22%, or 54.66 points, to 24,740.16. The Hang Seng China Enterprises Index rose 0.17%, or 14.90 points, to 8,809.72.

Shares of technology and private education advanced on bottom fishing, with Haidilao International Holding and Alibaba Group Holding rising at least 2.7%. Tencent added 1.2% and Meituan gained 0.3%

Kaisa Group Holding, the troubled Chinese property developer, surged 14% as the stock resumed trading after being suspended for almost three weeks. It agreed to sell its stake in a development in the city and asked bondholders to exchanges notes maturing next month to avert a default.

 

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