Hong Kong Market extends gain

23 Mar 2022 , 06:04 PM

Hong Kong share market finished higher for second straight session on Wednesday, 23 March 2022, on tracking overnight advances on Wall Street along with expectation of stimulus measures from Beijing, including possible cuts to banks reserve requirements, after assurances of more support by the Chinas economic czar Vice Premier Liu He and other policymaking bodies last week.

At closing bell, the benchmark Hang Seng Index advanced 1.21%, or 264.80 points, to 22,154.08. The Hang Seng China Enterprises Index was up by 1.28%, or 96.58 points, to 7,635.13.

Shares of technology companies surged as investors applauded Beijings possible concession for audit issues and the end of a criminal case against ZTE in the United States. Chinese regulators have asked some of the countrys U.S.-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, as Beijing steps up efforts to ensure domestic companies remain listed in New York.

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