Hang Seng Index rises over 100 points in morning trading, boosted by tech and property stocks

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25th June 2024 – (Hong Kong) At 11.41am, the Hang Seng Index (HSI) opened higher, gaining 60 points to reach 18,088. As trading progressed, the index’s momentum expanded, peaking at 18,231 with a substantial increase of 203 points. At 11.41am, the HSI recorded a rise of 76.31 points or 0.42%, settling at  18,104. Simultaneously, the HSI’s constituent indices also experienced positive movements. The Hang Seng China Enterprises Index (HSCEI) climbed 66 points or 1.02%, reaching 6,507, while the Hang Seng Tech Index rose by 18 points or 0.49%, standing at 3,695.

Tech stocks exhibited individual development during the trading session. Tencent saw a 1% increase, while Alibaba rose by 1.3%. Meituan recorded a notable rise of 2.6%, and JD.com saw a modest increase of 0.1%. However, Xiaomi encountered a 1% decline, and Kuaishou experienced a rise of 0.8%.

The performance of financial stocks varied, with some showing gains and others experiencing declines. HSBC Holdings rose by 0.8%, while Hong Kong Exchanges and Clearing Limited (HKEX) increased by 0.2%. On the other hand, AIA Group fell by 0.1%, and Ping An Insurance rose by 1.3%.

Property stocks performed well during the trading session. Longfor Group Holdings registered a rise of 2.6%, while China Resources Land increased by 2%. China Overseas Land & Investment also saw a positive movement of 2.1%.