Hong Kong Stocks extend gains

Hong Kong stock market finished higher for third straight session on Tuesday, 30 March 2021, following another record on Wall Street overnight on prospects of a solid U.S. economic recovery thanks to accelerating vaccinations and massive fiscal stimulus. Meanwhile, risk sentiments underpinned on eased restrictions and quarantine requirements for global travellers in a move to reopen its borders.

At closing bell, the benchmark Hang Seng Index advanced 0.84%, or 239.20 points, to 28,577.50. The Hang Seng China Enterprises Index increased 0.71%, or 77.93 points, to 11,020.87.

Shares of textile producers gained on Chinese boycott of foreign brands such as H&M, Nike and Adidas following a controversy and allegations of forced labour used in Xinjiang-produced cotton. Shenzhou International surged 9.5% to HK$158.48 and Anta Sports climbed 1.1% to HK$125.

 

Xiaomi Corp added 2.2% to HK$25.60 after the Chinese smartphone maker unveiled a new line-up of 5G phones.

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