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Hong Kong shares rose for the second straight day.
The Hong Kong market rebounded on Friday. Hang Seng index opened up 156 points, H share index up 48 points and technology index up 37 points. Tencent rose 1.33% for 18-point gain. ...
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Hong Kong shares rose for the second straight day.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market rebounded on Friday. Hang Seng index opened up 156 points, H share index up 48 points and technology index up 37 points. Tencent rose 1.33% for 18-point gain. AIA rose 2.1% for 26-point gain. HSBC rose 1.23% for 21-point gain. Alibaba rose 0.8% for 10-point gain. Meituan rose 1.8% for 17-point gain. Hang Lung rose 3.05% to lead the gainers. Crude oil fell again. Petrochina lost 0.4% and CNOOC lost 0.6%. They were the only losers. The market soared after opening, as Hang Seng index rose more than 200 points. Heavyweights rose further. HSBC rose 2% for 35-point gain. AIA rose 2.5% for 31-point gain. Tencent rose 2.2% for 25-point gain. Alibaba rose 2.3% for 30-point gain. Meituan rose 2.6% for 25-point gain. CCB rose 1.87% for 14-point gain. Technology stocks rose. Sensetime rose 4.5%. PA Good Doctor rose 3.9%. Ali Health rose 4.8%. Baidu rose 3.2%. Gas suppliers rose. ENN rose 3.9%. China Gas rose 4.2%. CR Gas rose 2.7%. Local properties rose. Hang Lung rose 3.8%. Henderson rose 3.2%. CK Assets rose 2.5%. Mainland developers rose. Longfor rose 3.5%. CR Land rose 3.2%. Country Garden rose 3.4%. Sunac rose 4.1%. However, Evergrande lost 3.1%. Hang Seng index reached a high of 17604 points, up 390 points, and closed the morning up 317 points. H share index closed the morning up 109 points and technology index up 72 points. Turnover was $28 billion.

The market retreated in the afternoon. Hang Seng index gained more than 200 points. AIA rose 2.5% for 31-point gain. HSBC rose 1.3% for 23-point gain. Tencent rose 1.9% for 26-point gain. Alibaba rose 1.5% for 20-point gain. Meituan rose 2% for 20-point gain. CCB rose 2.34% for 18-point gain. Consumption shares rose. Haidilao rose 3.2%. Shabu Shabu rose 4.6%. Tingyi rose 2.5%. Lining rose 2.25%. Zhongcheng rose 3%. Duty Free rose 2.6%. Mainland financials rose. ICBC rose 1.94%; Ping An rose 1.87%; BOC rose 2.25%. CM Bank rose 2.5%. Pharmaceutical shares rose. Sino Biopharm rose 3%. CSPC rose 2.3%. Cansino rose 8%. CMS rose 6.6%. Airliners rose. Cathay Pacific rose 2.87%. China Eastern rose 1.5%. China Southern rose 1.83%. Air China rose 2.9%. Abnormal movers Duiba rose 80% and 3D Medicine rose 47%. In the absence of Mainland investors, turnover was extremely low. Hang Seng index closed up 272 points, H share index up 86 points and technology index up 58 points. Turnover was $48 billion.

Last Friday night, overseas markets rose. DAX rose 159 points. CAC rose 62 points and FTSE rose 43 points. 336000 non-farm jobs were added to the US Labour market, much higher than expected. US markets fell first but rebounded later. Dow Jones rose 288 points. S&P rose 50 points. Nasdaq rose 211 points. Hong Kong ADR’s rose 110 points. Night future rose 180 points. We expect the market to rise today.
 
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