Blue chips rose across the board. HSBC (00005) gained 1.1% to HK$58.8. HKEX (00388) added 2.8% to HK$251.8. Tencent (00700) jumped 2% to HK$336.6. China Mobile (00941) rose 0.9% to HK$62.2. AIA (01299) put on 1.3% to HK$79.5.
Smartphone component suppliers were higher after the US government announced a 90-day extension allowing US companies "specific, limited engagements" with Huawei and its non-US affiliates. AAC Technologies (02018) shot up 6.1% to HK$56.5. Sunny Optical (02382) soared 5.1% to HK$129.8. BYD Electronic (00285) added 2.9% to HK$15.36. Q Technology (01478) surged 8.6% to HK$11.9. FIH Mobile (02038) ascended 2.7% to HK$1.14. Cowell E Holdings (01415) gained 4.3% to HK$1.22.
Alibaba will begin trading on the Hong Kong main board on November 26. Benefiting from the listing, which is expected to catapult Hong Kong back to the top global IPO capital ranking, Hong Kong Exchanges and Clearing (388 HK) rose 2.8% to HK$251.8. HKEX is also expected to benefit from the H-share full circulation reform announced by Chinese regulator last week. The H-share full circulation will enable major shareholders of all Hong Kong-listed mainland companies to unlock their stock into ordinary tradable shares, a move expected to release more shares for trading and improve company corporate governance.
Snack and beverage maker Want Want China (151 HK) surged 4.5% to HK$6.68, after it reported that net profit attributable to shareholders for the six months ended September rose 18.4% to 1.6 billion yuan.
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