Hong Kong Stocks end higher

Hong Kong stock market finished higher after recouping early losses on Wednesday, 03 February 2021, in line with a global advance, as investors cheered strong earnings from Alphabet and Amazon.com as well as positive news related to Covid-19 vaccine supplies and U.S. stimulus plans. However, market gains capped as the People's Bank of China drained some funds from the financial system and a private survey showed China's services sector activity grew at its slowest pace in nine months in January.

At closing bell, the benchmark Hang Seng Index inclined 0.2%, or 58.76 points, to 29,307.46. The Hang Seng China Enterprises Index added 0.37%, or 42.82 points, to 11,651.84.

 

Ping An Healthcare and Technology jumped 6.4% to HK$111.40 after the Chinese online health care services platform's revenues grew 35.5% to 6.87 billion yuan in 2020, beating market expectations.

WuXi Biologics fell 2.3% to HK$117.60 after the Chinese drug developer announced late Tuesday a plan to raise HK$13.2 billion (US$1.69 billion) by selling 118 million new shares at HK$112 each, or about 7% below the market price.

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