Hang Seng Index regains the 25,000-point mark, Labubu maker Pop Mart hits record

Hong Kong stocks reversed earlier losses and regained the 25,000-point mark at the close on Wednesday, following an afternoon rally in the A-share market. 

The benchmark Hang Seng Index inched up 43 points, or 0.17 percent, to 25,165 at the close, after having dropped to 24,980 points by noon. The market turnover was HK$285.3 billion.

Labubu maker Pop Mart (9992) jumped 12.5 percent to a record HK$316, after expecting revenue to hit over 30 billion yuan (HK$33 billion) this year.

Luxury jeweler Laopu Gold (6181) also gained 8.8 percent after reporting a 2.8-times rise in profit.

Sunny Optical Technology (2382) soared 9.4 percent to become the best performer among blue-chip stocks after announcing the results on Tuesday.

Shares of Hansoh Pharmaceutical (3692) slumped 7.2 percent following a share sale plan to raise nearly HK$4 billion at a 6.5 percent discount to the closing price on Tuesday.

Chinese semiconductor materials manufacturer SICC (2631), backed by Huawei, rose 6.4 percent on its debut in Hong Kong, suggesting a paper gain of HK$274 per board lot of 100 shares. 

The Hang Seng Tech Index was flat at 5,541 points.

In the mainland, the Shanghai Stock Exchange Composite Index jumped 1 percent in the afternoon to close at 3,766 points, and the Shenzhen Stock Exchange Component Index reversed the loss in the morning and closed 0.89 percent higher at 11,926.