Hong Kong stocks end higher on upbeat China factory activity data


  • Markets
  • Monday, 15 Mar 2021

SHANGHAI: Hong Kong stocks ended marginally higher on Monday, underpinned by heavyweight financial firms, after China posted better than expected factory activity data.

The Hang Seng index rose 0.3%, to 28,833.76, while the China Enterprises Index lost 0.3%, to 11,144.08 points.

Leading the gains, the Hang Seng financials index climbed 1.7%, while the Hang Seng energy index added 1.8%.

China's factory and retail sector activity surged in the first two months of the year, beating expectations, as the economy consolidated its brisk recovery from the coronavirus paralysis of early 2020.

While the impressive set of numbers released on Monday were heavily skewed by the very low base from last year's massive slump, analysts said they nonetheless showed China's strong rebound remained intact.

Hong Kong authorities said on Monday that the city's vaccine scheme would be widened to include those aged between 30 years and 60 years old and domestic helpers, as they aim to increase take up amongst residents in the Asian financial hub.

Bucking the broad strength, the Hang Seng tech index dropped 2.3% amid anti-monopoly worries.

Gaming giant Tencent Holdings Ltd shed 3.5%.

China's market regulator said on Friday it had fined 12 companies related to 10 deals that violated anti-monopoly rules

The companies included Baidu Inc, Tencent Holdings, Didi Chuxing, SoftBank and a ByteDance-backed firm. - Reuters
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Hang Seng index , Tencent , Baidu

   

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