HK stocks recover from previous day's three-week low

Hong Kong stocks rebounded on Wednesday and closed 0.6 percent higher, following Tuesday's near three-week low.

The benchmark Hang Seng Index closed at 23,483 points, up 139 points. The indicator once climbed as high as 23,596.

The main board turnover was HK$199.8 billion, an almost seven-week low.

The Hang Seng Tech Index gained 1.01 percent, or 55 points, to 5,573.

Pop Mart International (9992) once surged 15.8 percent to a record high of HK$147, before closing 11 percent higher at HK$140.07. The toymaker announced that its 2024 net profit nearly tripled from the year before.

Tracker Fund of Hong Kong (2800) rose 0.5 percent to HK$23.78, leading the market in turnover with HK$12.55 billion.

Shenzhou International (2313) was the best-performing blue-chip stock, surging 12.7 percent after reporting a 37 percent increase in net profit for last year.

Nongfu Spring (9633) plunged 8.3 percent to become the worst-performing blue chip on Wednesday. It reported a 12 billion yuan (HK$12.85 billion) net profit for last year, only 0.4 percent more than in 2023.

Alibaba (9988) climbed 1.41 percent while Tencent (0700) gained 0.9 percent.

Xiaomi gained 1.03 percent following Tuesday's slump led by its upsized placing.

In mainland China, the Shanghai Composite Index dipped 0.04 percent, closing at 3,368. The Shenzhen Component Index lost 5 points, closing at 10,643.

STAFF REPORTER