Hong Kong Market ends 0.34% down

Hong Kong share market finished session lower on Wednesday, 07 February 2024, as some investors booked profit after strong rally previous day fuelled by China's sovereign fund pledged to support the stock market and the securities regulator vowed to crack down on malicious short-selling.

At closing bell, the benchmark Hang Seng Index dropped 54.98 points, or 0.34%, to 16,081.89. The Hang Seng China Enterprises Index fell 52.22 points, or 0.95%, to 5,421.53.

Among blue chips, Alibaba Group dropped 1.5% to HK$74.90 and JD.com declined 2.6% to HK$90.35. Chip maker SMIC slumped 8% to HK$14.12 and PC maker Lenovo lost 4.3% to HK$8.12. WuXi Biologics jumped 5.6% to HK$19.18, while its affiliate WuXi AppTec gained 5% HK$51.55

 

Asian stocks rose broadly on Wednesday, with positive cues from Wall Street overnight and hopes of more support from Beijing. Australia benchmark S&P ASX 200 rose 0.45%. New Zealand's benchmark S&P NZX-50 index edged up 0.2%. China's Shanghai Composite index rallied 1.4%. Seoul Kospi average jumped 1.3%. Japans 225-issue Nikkei Stock Average index declined 0.11%.

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