HK stocks punch up on Chinese stimulus, Asian sentiment

Hong Kong equities ended on the third highest note this month amid expectations of more stimuli from China and an improved sentiment in Asian markets.

The market benchmark Hang Seng Index ended Monday at 24,145 points, 0.77 percent or 185 points higher than the previous close, after once hitting the 24,352-point level during the morning session.

The full-day main board turnover amounted to HK$244.8 billion.

The Hang Seng China Enterprises Index also saw its growth narrow to 0.57 percent and stood at 8,928 points while the Hang Seng Tech Index declined by 0.14 percent to 5,872.81 points.

Xiaomi (1810), the most traded stock in Hong Kong, rose 3.5 percent to HK$55.75 apiece.

Tokyo’s benchmark climbed 0.93 percent while Taiwan’s indicator by about 0.7 percent. South Korea’s Kospi composite index gained 1.73 percent.

In mainland China, the Shanghai Composite Index closed at 3,426 points, up by six points or 0.19 percent, while the Shenzhen Component Index dipped 20 points or 0.19 percent to 10,957 points.

STAFF REPORTER