HK stocks closed higher on Wednesday following the slight drop of the Dow overnight. The benchmark index opened down 22 points at 24,868 and briefly lost 205 points, touching the day low of 24,685. In the afternoon trade, the index rebounded and soared 401 points to the day high of 25,291.
The Hang Seng Index ended up 353 points or 1.4% to 25,244. The H-share index rose 62 points or 0.6% to 10,215. Turnover increased to HK$144.1 billion from HK$141.1 billion on Tuesday.
Blue chips were mixed. HSBC (00005) gained 4.8% to HK$35.75. HKEX (00388) dropped 1.1% to HK$369.8. Tencent (00700) added 1.4% to HK$520.5 ahead of its earnings report later today. China Mobile (00941) nudged up 0.4% to HK$56.95. AIA Group (01299) put on 3% to HK$74.85.
Russian President Vladimir Putin announced the approval of a coronavirus vaccine for use on Tuesday. Banking stocks soared as money poured into the old economy stocks. Hang Seng Bank (00011) jumped 5.2% to HK$126.2. Bank of East Asia (00023) gained 2.5% to HK$17.82. BOC Hong Kong (02388) shot up 3.7% to HK$22.6. Standard Chartered (02888) surged 5.3% to HK$43.75.
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