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  • Jan 3rd, 2018
  • Comments Off on Hong Kong stocks rise to 10-year high
Hong Kong stocks rose the most in three months to a decade-high on Tuesday, led by mainland companies listed in the city, after Beijing kicked off H-share convertibility reform. The market was also aided by China's stronger-than-expected factory activity, as well as strong property sales performance during the last week of 2017.

At close of trade, the Hang Seng index was up 596.16 points or 1.99 percent at 30,515.31. The Hang Seng China Enterprises index rose 3.07 percent to 12,068.99. The sub-index of the Hang Seng tracking energy shares rose 2.9 percent while the IT sector rose 2.65 percent, the financial sector was 2.42 percent higher and the property sector rose 2.16 percent.

The top gainer on the Hang Seng was Sunny Optical Technology Group Co Ltd up 9.61 percent, while the biggest loser was Galaxy Entertainment Group Ltd which was down 3.83 percent. The top gainers among H-shares were China Vanke Co Ltd up 9.94 percent, followed by Great Wall Motor Co Ltd gaining 7.49 percent and Anhui Conch Cement Co Ltd up by 5.99 percent.

The three biggest H-shares percentage decliners were Air China Ltd which was down 1.69 percent, Zhuzhou CRRC Times Electric Co Ltd which fell 0.1 percent and CGN Power Co Ltd down by 0.9 percent. About 2.44 billion Hang Seng index shares were traded, roughly 143.6 percent of the market's 30-day moving average of 1.70 billion shares a day.

Copyright Reuters, 2018


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