Hang Seng closes up 326 points

Business | 6 Apr 2018 4:31 pm

Stocks in Hong Kong rebounded on Friday despite declines in regional equity markets after Beijing said it is prepared to fight back US tariffs at any cost.

The benchmark Hang Seng Index spiked 1.11 percent, or 326.25 points, to close at 29,844.94 while the Hang Seng China Enterprises Index rose 0.93 percent, or 110.25 points, at 11,967.66.

Blue-chip heavyweights led the rally. Chinese tech giant Tencent Holdings (0700) spiked 2.06 percent, or HK$8.20, to HK$405.80 while insurer AIA Group (1299) jumped 1.43 percent to HK$67.55 and China Construction Bank (0939) climbed 1.54 percent to HK$7.93. HSBC Holdings (0005) rose 0.90 percent to HK$73.05 and its subsidiary, Hang Seng Bank (0011), surged 2.79 percent, or HK$5.00, to HK$184.00.

Apple suppliers were among the top blue-chip gainers. AAC Technologies Holdings (2018) surged 2.08 percent, or HK$2.80, to HK$137.40 and Sunny Optical Technology Group (2382), the biggest index gainer, soared 3.55 percent, or HK$4.90, to HK$143.00.

WH Group (0288) was the biggest blue-chip loser of the day. The world's biggest pork producer plunged 3.37 percent, or 28 HK cents, to HK$8.04.

Turnover on the main board amounted to HK$98.63 billion.

Markets in mainland China were closed for a public holiday.

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