HK, mainland stocks gain ground amid cooling Mid-East tensions

Hong Kong stocks rose on Wednesday with the Israel-Iran ceasefire boosting market sentiment.

Guotai Junan International (1788) nearly tripled after its subsidiary won approval from the Securities and Futures Commission to provide virtual asset dealing services. The turnover of the stock was HK$16.4 billion, exhibiting a substantial ratio compared to a market cap of HK$35.3 billion.

The benchmark Hang Seng Index added 297 points, or about 1.23 percent, to close at 24,474. The main board market turnover was HK$267.8 billion.

The Hang Seng Tech Index grew 61 points, or 1.15 percent, to 5,359.

The best performer among blue chip stocks was New Oriental Education & Technology (9901), whose shares surged 8.85 percent. Local property and Macau gaming stocks also performed well with Hang Lung Properties (0101) rising by 8.8 percent, and Sands China (1928) up 6 percent.

In the mainland, the Shanghai Stock Exchange Composite Index rose 35 points, or 1.04 percent, to 3,455 points while the Shenzhen Stock Exchange Component Index gained 176 points, or 1.72 percent, to 10,393.

STAFF REPORTER