Hong Kong stocks gain 12pc in the third quarter on the extended interest in China's tech sector

Hong Kong stocks widened gains in the afternoon of the last trading day of September amid the renewed interest in China’s tech sector, leading to a growth of 12 percent in the third quarter.

The market benchmark Hang Seng Index closed Tuesday at 26,855, 232 points or 0.87 percent higher than the previous close, marking the new second-highest close after July 2021. The market benchmark once reported a 0.2 percent dip in the morning. 

The full-day main board turnover expanded by 2 percent to HK$314.9 billion from one day ago.

The Hang Seng Tech Index gained 2.08 percent to 6,324. Alibaba (9988), the most traded stock on Tuesday, rose 2 percent.

SMIC (0981) surged for the second consecutive day by nearly 11 percent.

Oil companies defied the overall rise on the reported production increase by OPEC+ in November. Petrochina (0857) lost about 3 percent, the worst-performing bluechip member.

Newly-listed companies shone, with Zijin Gold International (2259), spun off from Zijin Mining (2289), leaping over 68 percent.

• Hong Kong Indices:
  • For September, the Hang Seng Index (HSI) accumulated a gain of over 7 percent, and the Hang Seng Tech Index (HSTECH) rose nearly 14 percent, both marking their fifth consecutive monthly gain.
  • In Q3, the HSI increased by nearly 12 percent, and the HSTECH rose nearly 22 percent, both extending their winning streak to three consecutive quarters.
  • Year-to-date (first three quarters), the HSI has accumulated a gain of nearly 34 percent, while the HSTECH has surged approximately 45 percent.
• Mainland Indices:
  • The Shanghai Composite Index closed at 3,882 points, up 20 points or 0.52 percent.
    • For September, it gained over 0.6 percent.
    • For Q3, it rose 12.7 percent.
    • Year-to-date, it increased by 15.8 percent.
  • The Shenzhen Component Index closed at 13,526 points, up 47 points or 0.35 percent.
    • For September, it accumulated a 6.5 percent gain.
    • For Q3, it surged 29.2 percent.
    • Year-to-date, it jumped 29.9 percent.
  • The ChiNext Index was volatile and closed largely flat at 3,238 points, up less than 1 point.
    • For September, it accumulated a 12 percent gain.
    • For Q3, it soared 50.4 percent.
    • Year-to-date, it has surged 51.2 percent.