HK stocks hit 20-month high

Dhaka,  Tue,  23 May 2017
Published : 21 Mar 2017, 14:59:27
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Hong Kong stocks climb 20-month high

HK stocks hit 20-month high
Hong Kong stocks climbed to a near 20-month high on Tuesday, bolstered by continued inflows from Chinese investors and signs of global economic recovery.

The benchmark Hang Seng index rose for a fourth straight day, adding 0.4 per cent to end at 24,593.12, its highest close since July 31, 2015.

The Hong Kong China Enterprises Index gained 0.6 per cent, to 10,644.15.

The Hang Seng has become the world's best-performing major equity index this year, having gained nearly 12 per cent.

That compares with a roughly 5.0 per cent gain in China's benchmark index, and a 6.0 per cent advance in the Dow Jones Industrial Average.

Most sectors rose in Hong Kong, with an index tracking mainland property plays rebounding 3.0 per cent following the previous day's slump due to fresh property curbs in China.

Shares of Meitu Inc slumped around 9.0 per cent after a roller coaster ride on Monday.

The Chinese photo app and mobile phone company on Monday was the most active stock traded by mainland investors through trading links between mainland cities and Hong Kong.
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