Investing.com – On Monday (13th), the Hong Kong stock market rebounded strongly after the Federal Reserve announced its measures against Silicon Valley Bank, which basically resolved the risk of a wider run on the crisis. Somewhat softened, the Hang Seng Index once rose by about 2.5%, and the Hang Seng Technology Index once rose by more than 4.5%.
At the same time, market turnover expanded, partly due to the large-scale expansion of the Shanghai-Shenzhen-Hong Kong Stock Connect. The turnover of the Hang Seng Index today was 145.185 billion; the net purchase of southbound funds was 344 million yuan, and the net inflow was 2.557 billion yuan.
As of market close:
- Up 1.95% to 19695.969 points;
- Up 1.67% to 19,645.5 points;
- Up 2.89% to 3891.480 points;
- It rose 2.24% to 6590.230 points.
Technology stocks generally rose, and Bilibili (HK:) (NASDAQ: ) soared 10.66%, leading the Hang Seng Technology Index constituents and being included in the Hong Kong Stock Connect. At the same time, Kuaishou (HK:) rose 4.18%, Tencent Holdings (HK:) (OTC:) rose 3.98%, and Alibaba (HK:) (NYSE:) rose 2.59%.
The three major operator stocks rose sharply. China Mobile (HK:) rose 4.60%, China Telecom (HK:) rose 6.41%, and China Unicom (HK:) rose 5.08%.
Previously, China Telecom stated that within three years after the A-share listing (until August 2024), it will increase the annual cash distribution of profits to more than 70% of the profits attributable to shareholders; increased to over 70% annually.
Oil stocks continued to rise, with China National Offshore Oil Corporation (HK:) up 5.96%, leading the gains among blue chips. At the same time, Sinopec (HK:) rose 5.74%, and PetroChina (HK:) rose 3.94%.
Cloud computing concept stocks generally rose, Kingsoft (HK:) rose 5.89%, Shenzhou Holdings (HK:) rose 4.28%, and Inspur Digital Enterprise (HK:) rose 5.70%.
Gold mining stocks rose, Minmetals Resources (HK:) rose 4.37%, Zijin Mining (HK:) rose 7.14%, Shandong Gold (HK:) rose 4.71%, China Gold International (HK:) rose 6.11%.
Mainland property stocks fell, CIFI Holdings Group (HK:) fell 8.97%, Country Garden (HK:) fell 4.11%, and Longfor Group (HK:) fell 2.03%.
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Shanghai-Shenzhen-Hong Kong Stock Connect Targets Largest Expansion
According to the Securities Times, on March 13, the rules for expanding the target range of stocks connected to the Shanghai and Shenzhen Stock Exchanges officially came into effect, and the mainland and Hong Kong capital markets opened the largest two-way expansion in history. According to statistics, 598 and 436 stocks were newly included in Shanghai Stock Connect and Shenzhen Stock Connect respectively. %, an increase of 15.56 percentage points and 9.56 percentage points compared with the current market capitalization coverage of Shanghai Stock Connect and Shenzhen Stock Connect.
[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]
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Editor: Liu Chuan