HSI breaches 24,000 for the first time in three years

Hong Kong stocks once surpassed the 24,000 mark on Thursday after a flat opening.

The benchmark Hang Seng Index opened four points lower at 23,783 points before jumping to a new three-year high of 24,076 points.

The tech gauge opened 10 points higher at 5,963 points and then lost 0.19 percent.

Alibaba (9988) opened 0.4 percent higher and rose 1.53 percent to HK$139 before dropping 0.58 percent.

BYD (1211) opened 4.9 percent higher to HK$408.80, hitting a new record high.

China International Capital Corporation (3908) and China Galaxy Securities (6881) dipped at the opening after denying a merger report, declining 7 and 6 percent, respectively.

The blue-chip HSI tipped a previous three-year high on Wednesday after Financial Secretary Paul Chan Mo-po delivered Hong Kong's new budget.

STAFF REPORTER