Hong Kong Market marks seven days win

Hong Kong share market finished session slight higher on Tuesday, 30 April 2024, on optimism that Chinas growth has stabilised after an official report indicated manufacturing activity expanded in April. However, market gains were limited as investors pocketed recent gains ahead of the long Labor Day holiday and the Federal Reserve's monetary policy meeting outcome later this week.

The purchasing managers index (PMI) of manufacturing activity stood at 50.4 in April, above the reading of 50 that indicates expansion for a second straight month, Chinas statistics bureau said on Tuesday.

At closing bell, the benchmark Hang Seng Index climbed up 16.12 points, or 0.09%, to 17,763.03, registering seven days of straight gains. The Hang Seng China Enterprises Index declined 9.11 points, or 0.14%, to 6,273.75.

 

Home appliance maker Haier Smart Home surged 7.9% to HK$29.25 after saying that first-quarter profit increased 20% from a year earlier.

HSBC Holding rose 2.2% to HK$67 after posting the better-than-estimated result for the first three months.

CNOOC advanced 2.7% to HK$20.30, and China Petroleum and Chemical Corp, also known as Sinopec, gained 1.1% to HK$4.72.

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