Hong Kong stocks pare gains by noon after hitting new high since Feb 2022

Hong Kong stocks pared gains by midday on Monday after hitting the highest in three and a half years in the morning trade. 

The benchmark Hang Seng Index increased by 69 points, or 0.28 percent to 24,895 points by noon. It touched the 25,000-point mark in early morning trade, rising to as much as 25,010 points – the highest level since February 2022. 

The half-day market turnover was HK$151.4 billion. 

The Hang Seng Tech Index grew 0.32 percent to 5,556 points at noon. 

Tech heavyweights performed well, with Alibaba (9988), Meituan (3690), and JD.com (9618), all rising more than 1.8 percent.

In the mainland, the Shanghai Stock Exchange Composite Index rose 0.5 percent to 3,534 points and the Shenzhen Stock Exchange Component Index gained 0.37 percent to 10,913 points at the midday close.

Staff reporter