Markets

Hong Kong Hang Seng Edges Up 0.14% On Tech Sector

The Hong Kong Hang Seng Index Thursday rose 0.14%, a traders bid up tech-sector stocks led by mainland China online giant and index heavyweight Tencent (700:HK), which rose 2.87% after topping earnings expectations. The tech-sector surge was enough to offset the negatives of rising global bond values and the overnight drop on Wall Street, said analysts.

Pushed up in a late afternoon rally, the broad gauge Hang Seng gained 37.27 to 26,286.55, as gainers outnumbered losers 27 to 20.

Other stocks on the upside included airliner Cathay Pacific (293:HK) up 2.87%; and then computer-maker Lenovo (992:HK) up 2.16%.

On the downside were noodle maker Tingyi Cayman (322:HK) off 2.52%; and then state oil giant CNOOC (883:HK), off 2.35%.

On the mainland, the Shanghai Stock Exchange Composite Index (SHCOMP) rose slightly, up 0.06% to 4,378.31.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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