[ET Net News Agency, 20 June 2019] HK stocks closed higher on Thursday after the Fed
kept federal fund rates unchanged but hinted a hike later. The blue-chip index opened up
106 points to 28,308 and briefly pared its gains to 56 points, hitting a day low of
28,258. It then resumed its upward momentum, rising 361 points in the afternoon trade to a
day high of 28,563.
The Hang Seng Index ended up 348 points or 1.2% to 28,550. The H-share index rose 157
points or 1.5% to 10,922. Turnover decreased to HK$97.8 billion from HK$105 billion on
Wednesday.
Blue chips jumped across the board. HSBC (00005) edged up 0.1% to HK$65.2. HKEX (00388)
inched up 0.1% to HK$278.2. The stock exchange announced the launch of "inline warrants"
in July, further enhancing its structured product offerings. Tencent (00700) gained 2% to
HK$354 after Niko Partner said in a research report that "Game for Peace" could bring in
US$1 billion revenue. China Mobile (00941) added 0.7% to HK$70.25. AIA (01299) shot up
2.6% to HK$82.05 after management noted market's positive response to its launch of
Qualifying Deferred Annuity Policy (QDAP).
Chinese insurers were higher on news of Ping An's (02318) continued buyback of 1.4
billion A-shares. It shot up 3.7% to HK$94.35. China Life (02628) gained 3.3% to HK$19.38.
CPIC (02601) advanced 4% to HK$31.45. China Taiping (00966) soared 3.9% to HK$21.1. NCI
(01336) surged 5.6% to HK$37.85. (KL)