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22-11-2017, 03:50 PM
Hong Kong's Hang Seng Index Rises Above 30,000 to Decade-High
Bloomberg News
November 22, 2017, 9:40 AM GMT+8 Updated on November 22, 2017, 3:01 PM GMT+8
Hong Kong’s benchmark equity gauge rose above the 30,000 level for the first time in a decade as Tencent Holdings Ltd. extended its rally and Chinese financial shares climbed.
The Hang Seng Index rose as high as 30,199.69 before easing back to 29,991.49 as of 2:59 p.m. local time, still up 0.6 percent for the day. Tencent has surged 22 percent this month alone, taking its market value above $500 billion, while Ping An Insurance Group Co. has jumped 23 percent amid optimism over its digital expansion.
Hong Kong stock investors have had a rocky ride in the past 10 years, buffeted by the global financial crisis, the bursting of two different Chinese stock bubbles as well concerns over European debt. Hopes of a sustained rally in 2015 were dashed by turmoil in mainland financial markets. This year, however, has seen sustained inflows from across the border as well as dizzying rises in technology shares.
More details in https://www.bloomberg.com/news/articles/...ecade-high
Bloomberg News
November 22, 2017, 9:40 AM GMT+8 Updated on November 22, 2017, 3:01 PM GMT+8
Hong Kong’s benchmark equity gauge rose above the 30,000 level for the first time in a decade as Tencent Holdings Ltd. extended its rally and Chinese financial shares climbed.
The Hang Seng Index rose as high as 30,199.69 before easing back to 29,991.49 as of 2:59 p.m. local time, still up 0.6 percent for the day. Tencent has surged 22 percent this month alone, taking its market value above $500 billion, while Ping An Insurance Group Co. has jumped 23 percent amid optimism over its digital expansion.
Hong Kong stock investors have had a rocky ride in the past 10 years, buffeted by the global financial crisis, the bursting of two different Chinese stock bubbles as well concerns over European debt. Hopes of a sustained rally in 2015 were dashed by turmoil in mainland financial markets. This year, however, has seen sustained inflows from across the border as well as dizzying rises in technology shares.
More details in https://www.bloomberg.com/news/articles/...ecade-high
Specuvestor: Asset - Business - Structure.
