Global Market News

Hong Kong Hang Seng Index Up 0.1%, Tech and Property Issues Gain


Last updated: 08/05/2022 06:12:11

06:12 AM EDT, 08/05/2022 (MT Newswires) -- Hong Kong's Hang Seng Index opened higher on Friday, wobbled, but still finished up 0.1% as traders renewed their interest in tech and property issues. Sentiments were dented by reports of new anti-pandemic lockdowns in mainland China.

The broad gauge Hang Seng rose 27.90 to 20,201.94, as gaining issues outnumbered losers 49 to 16. The Hang Seng TECH Index rose 0.8% on the day, and the Mainland Properties Index rose 1.6%.

Leading the upside were shipping line Orient Overseas International (0316:HK), up 7.2%, followed by Semiconductor Manufacturing International (0981:HK), up 7.1%, and then Xinyi Glass (0868:HK), up 5.5%.

On the downside were PetroChina (0857:HK), off 2.3% and then e-commerce colossus Alibaba (BABA,9988:HK), off 2.2%.

On the mainland, the Shanghai Composite rose 1.2% to 3,227.03.

In other news, Yiwu, a manufacturing hub in Zhejiang province, is in a partial lockdown, reported The South China Morning Post.
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