iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Hong Kong Market surges on China-US relations improvement

15 Nov 2022 , 03:53 PM

Hong Kong share market finished higher for third straight session on Tuesday, 15 November 2022, on tracking positive lead from Mainland A-share market, thanks to Beijing easing some of its COVID-19 rules and offer of more financial support to the troubled property market sparking hopes of an economic recovery. Investors also cheered the easing of tensions in strained U.S.-China relations after a meeting of the heads of the worlds top two economies on the sidelines of the G20 Summit. The US said it will resume cooperation with China on areas ranging from climate change to food security following the first in-person meeting between President Joe Biden and his counterpart Xi Jinping in Bali on Monday. The US will also send Secretary of State Anthony Blinken to visit China to further warm bilateral ties. At closing bell, the benchmark Hang Seng Index spurted 723.41 points, or 4.1%, to 18,343.12. The Hang Seng China Enterprises Index surged 289.49 points, or 4.84%, to 6,269.29. Among blue chips, Tencent Holdings and Alibaba Group both jumped 11% to HK$288 and HK$78.90, respectively. Macau casino operator Sands China advanced 6.1% to HK$19.88 and Ping An Insurance climbed 5.4% to HK$44.15 while HSBC added 2.4% to HK$44.70. Shares of Hong Kong-listed Chinese technology companies rose as the meeting between U.S. President Joe Biden and Chinese President Xi Jinpings meeting ahead of the G-20 summit in Bali. Tencent rose 7.6%, Meituan gained 5.9%, and Alibaba rose 9%. Property developers shares extended gains, as Beijing offer of more financial support to the troubled property market. Property management firm Country Garden Services surged 18% to HK$19.74, and China Vanke added 2.5% to HK$14.18. Longfor Group gained 1.7% to HK$21.55 while China Overseas Land and Investment rose 1.3% to HK$20.30.Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

SBI Card Q4 Profit Slips 20%
25 Apr 2025|11:17 PM
HUL Q4 Net Profit Rises to ₹2,493 Crore
25 Apr 2025|10:59 PM
Sensex and Nifty in Red on April 25, 2025
25 Apr 2025|02:08 PM
Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.