Hong Kong Market Closures and Stock Market Performance
Hong Kong’s stock market saw a positive performance on Monday, with traders optimistic about closing the year on a strong note. The Hang Seng Index rose 0.3 per cent to 25,760.36 as of 9:55 am local time, partially recovering from the 1.1 per cent loss recorded last week. The Hang Seng Tech Index also gained 0.9 per cent. On the mainland, the CSI 300 Index climbed 0.8 per cent, while the Shanghai Composite Index added 0.6 per cent.
However, the market will be affected by holiday closures. Trading in Hong Kong will be shortened over the holiday period, with an early close on Christmas Eve. The market will remain shut on December 25 and 26. Southbound trading through the Stock Connect link will also be suspended from the afternoon of December 24, resuming on December 29.
Key Gainers and Losers
Among the leading gainers, chipmaker SMIC jumped 4.2 per cent to HK$67.80, while blind-box toymaker Pop Mart International advanced 3.4 per cent to HK$199.60. E-commerce firm Alibaba Group Holding added 2.1 per cent to HK$148.30, and search-engine giant Baidu gained 2 per cent to HK$121.20.
On the other hand, some stocks faced declines. Biopharmaceutical firm Innovent Biologics fell 1.3 per cent to HK$82.20, and logistics major ZTO Express lost 1.4 per cent to HK$164.40. Online games provider NetEase tumbled 0.8 per cent to HK$218.80, and smartphone and carmaker Xiaomi retreated 1 per cent to HK$40.12.
New Stock Listings
Four new stocks made their debut in Hong Kong. Nanhua Futures fell 17 per cent to HK$9.97, B&K retreated 10 per cent to HK$34.40, BenQ BM Holding lost 37 per cent to HK$5.90, and Impression Dahongpao lost 20 per cent to HK$2.88.
Regional Market Performance
Elsewhere in the Asia-Pacific region, Japan’s Nikkei 225 climbed 2.1 per cent, South Korea’s Kospi rose 1.9 per cent, and Australia’s S&P/ASX 200 added 0.9 per cent.
Additional Insights
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