Hong Kong’s Hang Seng Index Soars by Nearly 2%
On January 25th, the Hang Seng Index in Hong Kong surged by 312.09 points, representing an impressive increase of 1.96%, to close at 16211.96 points. The state-owned enterprise index also experienced a notable uptick, rising by 115.66 points to close at 5468.71 points, reflecting a 2.16% increase. Additionally, the Hang Seng Technology Index saw a rise of 29.53 points, ending at 3310.69 points, an increase of 0.9%.
Several blue-chip stocks demonstrated significant gains, including Tencent Holdings, which rose by 3.19% to close at HK$290.8; Hong Kong Exchanges and Clearing, which increased by 2.42% to close at HK$245; and China Mobile, with a 2.34% rise to close at HK$67.65. HSBC Holdings saw a more modest increase of 0.75%, closing at HK$60.4.
However, the local stock scene experienced a mix. Cheung Kong Holdings went up by 0.56% to close at HK$35.75, while Sun Hung Kai Properties saw a marginal increase of 0.13%, closing at HK$76.05. On the other hand, Henderson Land fell by 0.47%, closing at HK$21.1.
Chinese financial stocks also demonstrated positive movements, with the Bank of China rising by 1.7% to close at HK$2.99 and China Construction Bank increasing by 1.75% to close at HK$4.66. The Industrial and Commercial Bank of China recorded a significant rise of 2.41%, ending at HK$3.83. Furthermore, insurance giant Ping An of China saw a substantial increase of 4.85%, closing at HK$34.6, while China Life rose by 3.65% to end at HK$9.36.
In the petroleum and petrochemical sector, Sinopec experienced a noteworthy surge of 7.25%, closing at HK$4.14, while PetroChina jumped by 8% to end at HK$5.67. China National Offshore Oil also ended strong, rising by 4.79% to close at HK$14.44.
The main board transaction volume for the day saw substantial activity, totaling HK$132.086 billion.
The impressive performance of these significant sectors and stocks reflects positive investor sentiment and market movements in Hong Kong, signaling a strong start to the year for the region’s financial markets.