Hong Kong Markets extends gain

Hong Kong share market finished higher for third straight session on Thursday, 23 March 2023, on strengthening confidence about corporate earnings outlook after Tencent Holdings reported stronger than expected results.

At closing bell, the benchmark Hang Seng Index advanced 458.21 points, or 2.34%, to 20,049.64. The Hang Seng China Enterprises Index inclined 196.47 points, or 2.96%, to 6,836.46.

Among blue chips, Tencent jumped 7.5% to HK$373.20, while Alibaba Group gained 3.9% to HK$86.05. Sunny Optical advanced 5.4% to HK$97.05, while shipping giant Orient Overseas International surged 16.3% to HK$151.80.

Marine transport company Orient Overseas Intl jumped 16.6%. Shares of computers/consumer electronics firm Lenovo Group and e-commerce company Meituan gained 11.4% and 8.3%, respectively. Shares of pharmaceuticals company CSPC Pharmaceutical Group weakened 7.3%.

 

Sun Hung Kai Properties added 0.4% to HK$106.60, and Henderson Land rose 1.1% to HK$27, leading gains among Hong Kong developers. HSBC climbed 0.1% to HK$53.55

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