Hong Kong Market marks eighth days win

Hong Kong share market finished session sharply higher on Thursday, 02 May 2024, as risk sentiments underpinned by the US Federal Reserves unexpectedly dovish stance and Beijings commitment to bolster economic support, with shares in tech, financial, developers, and casino operators leading rally.

At closing bell, the benchmark Hang Seng Index surged by 444.10 points, or 2.5%, to 18,207.13. The Hang Seng China Enterprises Index spurted 163.34 points, or 2.6%, to 6,437.09.

The benchmark Hang Seng Index has risen 20% from a January low and has now entered what is defined as bull-market territory.

Among blue chips, HSBC, the citys biggest bank, rose 3.4% to HK$69.25. Tencent rose 3.8% to HK$360.40.

 

Insurance stocks were also higher, with AIA rising 2.7% to HK$59.35 and Ping An advancing 5.7% HK$38.

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