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Hong Kong Market extends gain on bullish bets on China

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Capital Market
Last Updated : Jan 27 2023 | 5:31 PM IST
Hong Kong share market finished higher on Friday, 27 January 2023, the second trading day of the year of the Rabbit, as optimism stemming from better-than-expected US economic data and bullish bets on China.

At closing bell, the benchmark Hang Seng Index advanced 122.12 points, or 0.54%, to 22,688.90. The Hang Seng China Enterprises Index was up 66.89 points, or 0.87%, to 7,773.61.

Market sentiments underpinned as holiday spending in mainland China fuelled expectations the nation's post-zero-Covid recovery will gain strength. As per reports, bookings for hotels, flights and attractions at home and abroad rose during the Lunar holiday season to their highest in three years.

Among blue chips, Tencent Holdings rose 2% to HK$415, JD.com jumped 2.4% to HK$251.40 and property developer Longfor climbed 4.3% to HK$28.20. Casino operator Sands China surged 4.1% to HK$30.55 while peer Galaxy Entertainment added 0.5% to HK$54.60.

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First Published: Jan 27 2023 | 5:13 PM IST

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