Hong Kong Market rises 0.7%

Hong Kong share market finished session modestly higher on Tuesday, 13 December 2022, as a wide range of stocks were bought on tracking an overnight rally on Wall Street and on removal of all restrictions on inbound travelers by allowing them access to public venues up on arrivals.

However, market gains capped as investors largely adopted a wait-and-see stance ahead of the U.S. Federal Reserve's policy meeting later in the day.

At closing bell, the benchmark Hang Seng Index rose 132.57 points, or 0.68%, to 19,596.20. The Hang Seng China Enterprises Index was up 26.55 points, or 0.4%, to 6,654.85.

 

Starting Wednesday, Hong Kong will scrap an amber health code that currently bans travellers who test negative from entering certain places of business, such as restaurants, within three days of arriving in the city.

Among blue chips, Meituan gained 2.1% to HK$179, and Tencent advanced 0.3% to HK$318.40. Macau casino operator Sands China rose 4.3% to HK$26.55, and Galaxy Entertainment added 2.4% to HK$52.60.

Chip maker Semiconductor Manufacturing International Corp surged 9.7% to HK$18.18 on reports that China is working on a 1 trillion-yuan (US$143.3 billion) package to support the industry.

Guangzhou R&F Properties tumbled 12% to HK$2.15 after founder Zhang Li was arrested in London for offering bribes to secure a contract in the US for affiliate Z&L Properties.

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