Market Commentary - Foreign Markets
Hong Kong Market ends 0.42% higher As on : 20-May-24  16:07

Hong Kong share market finished session slightly higher on Thursday, 18 April 2024, as positive lead from Wall Street last Friday and Beijing?s latest efforts to salvage the beleaguered property sector boosted sentiment.

The People Bank?s of China on Friday announced most aggressive measures yet to stimulate the property sector, including a 300 billion yuan funding to clear excess housing inventory, lowering the minimum mortgage down payment requirements and removing the national floor for mortgage interest rates.

At closing bell, the benchmark Hang Seng Index advanced by 82.61 points, or 0.42%, to 19.636.22, the highest level since August 1. The Hang Seng China Enterprises Index grew 30.38 points, or 0.44%, to 6,964.99.

Among blue ships, Electric vehicle maker BYD jumped 1.98% to HK$227, peer Li Auto advanced 4.2% to HK$99.90 and Geely Auto added 4.1% to HK$10.64. E-commerce platform JD.com gained 2% to HK$136.80 and gaming firm NetEase rose 1.3% to HK$164.90.

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