Hong Kong Market ends higher

Hong Kong share market closed session modest higher on Tuesday, 28 December 2021, after trading resumed after a market holiday, on tracking overnight gains on Wall Street. At closing bell, the benchmark Hang Seng Index was up 0.24%, or 56.80 points, to 23,280.56. The Hang Seng China Enterprises Index fell 0.09%, or 7.50 points, to 8,194.45.

Shares of property related companies advanced, with China Evergrande up after its chairman Hui Ka-yan pledged to speed up the pace of home construction and boost delivery to buyers even as the group faces more debt maturities in the coming week.

Shares of casino companies declined, with Sands China and Galaxy Entertainment being notable losers, on concerns Macau would face tighter border control after the city reported its first Omicron case on Monday.

 

Shares of tech companies declined after China's top planning body on Monday stipulates that companies in sensitive industries will be barred from selling shares in foreign markets, unless they seek a waiver from the government. Tencent Holdings, Meituan and Alibaba Health Information closed lower.

Shares of China Cinda Asset Management surged 12% after agreeing to buy a 20% stake in the consumer credit unit of Ant Group for 6 billion yuan (US$930 million).

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