Hong Kong Market extends gain

Hong Kong share market finished session higher on Friday, 03 March 2023, on tracking positive lead from Wall Street overnight on expectations for a smaller-than-expected rate hike by the Federal Reserve brightened market sentiment. Meanwhile anticipation of a Chinese economic recovery after a private report showed services activity in China expanded last month.

At closing bell, the benchmark Hang Seng Index advanced 138.08 points, or 0.68%, to 20,567.54. The Hang Seng China Enterprises Index surged 82.42 points, or 1.2%, to 6,939.62.

Among blue chips, Alibaba Group gained 0.5% to HK$88 and Tencent jumped 1.3% to HK$367.60. Search engine operator Baidu rallied 5.3% to HK$149.40. Bilibili surged 10% to HK$168.90.

Consumer-related stocks also advanced. Sands China led Macau casino operators higher with a 1.3% gain to HK$27.50 while hotpot chain Haidilao rallied 3.1% to HK$23.15.

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