Chinese and Hong Kong stocks rose on Wednesday after Beijing announced a series of measures aimed at stabilizing the markets.
Hong Kong’s benchmark Hang Seng Index closed at 22,691 on Wednesday, up 29 points or 0.13 percent, marking its fifth day of consecutive gains.
The China Enterprises Index slipped 19 points, or 0.23 percent, to close at 8,242 while the Tech Index fell 39 points, or 0.75 percent, to 5,200.
Turnover on the main board was HK$240 billion.
Mainland brokerage stocks were actively buoyed by optimism over reserve requirement and interest rate cuts. China International Capital (3908) closed at HK$14, up 1.74 percent; CITIC Securities (6030) ended at HK$20, up 1.52 percent; Everbright Securities (6178) rose 0.57 percent to HK$7.01; and China Merchants Securities (6099) edged up 0.16 percent to HK$12.26.
Financials held firm, with HSBC (0005) up 0.80 percent, AIA (1299) rising 2.92 percent, Ping An Insurance (2318) gaining 0.65 percent, and Hong Kong Exchanges and Clearing (0388) up 1.96 percent.
In the mainland, the Shanghai Composite Index closed 26 points or 0.8 percent up at 3,342 while the Shenzhen Component Index ended 21 points higher at 10,104 points, gaining 0.22 percent.
STAFF REPORTER
