Hong Kong stocks closed sharply higher on Thursday morning session in tandem with the continued rebound of overseas markets, with the Dow soaring 298 points overnight. The benchmark index opened up 300 points at 20,736. It then saw its gains widen to 391 points (at 20,828) at one stage.
The Hang Seng Index ended up 326 points or 1.6% to 20,762. The H-share index also rose 130 points or 1.5% to 8,702. Half-day turnover increased to HK$38.8 billion from HK$34.9 billion on Wednesday.
REIT and utilities met profit-taking after hitting fresh highs earlier. Link REIT (00823) and CLP (00002) retreated 2% and 1% to HK$52.85 and HK$78.25. But MTRC (00066) added 1% to HK$39.1.
China Overseas (00688) said its acquisition of property from CITIC proceeding smoothly. Morgan Stanley estimated the deal may add 10% to its NAV. COLI shot up 6% to HK$24.4. CR Land (01109) also surged 5% to HK$18.06.
Newswire reported that tomorrow (a holiday for the Hong Kong SAR Establishment Day) may be a good day for the announcement of Shenzhen-HK Connect program. HKEx (00388) put on 1% to HK$188.1.
Tencent (00700) rose 1% to HK$174.9 as HSBC Research said the stock may outperform in risk-off environment as Brexit and its implications play out over the next few months.
AIA (01299) gained 3% to HK$46.15 after Credit Suisse upgraded its target price for the stock to HK$56.3.
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