Hong Kong Stocks Close: Hang Seng Index Closes Above 19,000 Points, Country Garden Falls More Than 5%, Leading Blue Chips
On Friday (21st), the Hong Kong stock market experienced a mixed day of trading, with fluctuations in the morning followed by a slight recovery in the afternoon. The Hang Seng Index saw a temporary increase of over 1%, closing above 19,000 points once again after two days. Additionally, the Hang Seng Technology Index surged by approximately 2%.
However, market trading weakened throughout the day. The turnover of the Hang Seng Index was 76.623 billion, compared to 104.858 billion on the previous trading day. Despite this, stability returned to Beishui, with a net purchase of 500 million yuan and a net inflow of 1.755 billion yuan from southbound funds, after two days of rare activity.
At market close, the Hang Seng Index rose by 0.78% to 19,075.26 points, marking a 1.74% decline for the week. The Hang Seng Technology Index increased by 0.55% to 19,058.5 points. Meanwhile, the Hang Seng China Enterprises Index climbed by 1% to 4,104.36 points, experiencing a 2.94% decrease for the week. Lastly, the Hang Seng Technology Index edged up by 0.80% to 6,415.02 points, facing a 2.19% decline for the week.
Pharmaceutical and medical beauty stocks showed gains in Friday’s session. GenScript (HK:) rose by 12%, Pharmaron (HK:) increased by over 3%, Minimally Invasive Medical (HK:) rose by 4.16%, and Furui Medical Technology (HK:) experienced a rise of about 3%.
Internet stocks also performed well, with Kuaishou (HK:) rising by approximately 5% and leading the surge among Hang Seng Technology Index constituents. Alibaba (HK:)(NYSE:) rebounded by 2%, Meituan (HK:) rose over 1%, and Tencent Holdings (HK:)(OTC:) slightly increased by less than 0.1%.
On the other hand, auto parts stocks experienced a decline. Zhejiang Shibao (HK:) fell by 10.39%, Nexteer (HK:) decreased by 4.38%, Minth Group (HK:) fell by 1.12%, and Johnson Electric Holdings (HK:) faced a decline of 1.47%.
Lithium battery stocks also took a hit, with Ganfeng Lithium Industry (HK:) dropping by 4.26% and Tianqi Lithium Industry (HK:) experiencing a decline of 2.64%.
Furthermore, electrical equipment stocks weakened, particularly Hengxin Technology (HK:), which fell by 5.5%. Dongfang Electric (HK:) and Harbin Electric (HK:) also faced decreases of 2%.
Leading the decline in the Hang Seng Index was Country Garden (HK: ), which slumped by over 5% after its bonds experienced a decrease.
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Editor: Liu Chuan