Hang Seng roars back

Business | 20 Mar 2020 4:14 pm

Stocks roared back in Hong Kong and mainland China at the close today compared with a rout yesterday.

Rapid stilumlus measures being rolled out in US, Europe, and Asia to soften the crushing damage being caused by the global coronavirus pandemic that spread from China, have resonated with investors.

The benchmark Hang Seng Index rallied by 1,095.94 points, or 5.05 percent at 22,805.07.

Main board turnover was high at HK$171.27 billuion.

There were solid gains on Wall Street overnight on a day of choppy trading.

The stock rally came just as the United States unveiled an economic rescue package to soften the corntinuing devastation caused by the deadly new coronavirus that emerged in China and is raging across the world.

Alibaba Group (9988) jumped by 5.17 percent at HK$183.00. China Mobile (0941) popped by 14.72 percent at HK$55.35. Ck Asset (1113) was higher by 9.01 percent at HK$37.50.

In mainland China, the Shanghai Stock Exchange Composite Index closed 1.61 percent higher at 2,745.62. The Shenzhen Stock Exchange Composite Index shot up 1.28 percent at 1,704.46.

 

 

 

 

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