HK stocks closed higher on Monday with the benchmark index rising for the second straight session, boosted by the rally of Tencent.
The Hang Seng Index ended up 216 points to 25,391, after rising as much as 276 points at one point to a 22-month high of 25,450. The H-share index also rose 106 points to 10,374. Turnover increased to HK$81.85 billion from HK$70.12 billion on Friday.
By market close, the northbound quota balance of the "Shanghai-HK Connect" program was Rmb12.915 billion, accounting for 99.3% of the daily allowed quota of Rmb13 billion. The southbound quota balance was Rmb8.146 billion, accounting for 77.6% of the daily allowed quota of Rmb10.5 billion.
As for the Shenzhen-HK Connect, the northbound quota balance was Rmb12.441 billion, accounting for 95.7% of the daily allowed quota of Rmb13 billion. The southbound quota balance was Rmb10.149 billion, accounting for 96.7% of the daily allowed quota of Rmb10.5 billion.
Market heavyweights were firmer. China Mobile (00941) rose 0.82% to HK$86.45, while HSBC (00005) gained 1.04% to HK$67.7. Cathay Pacific (00293) put on 2.3% to HK$11.58 after it announced the jobs cut plan.
Tencent (00700) shot up 2.61% to HK$275.4, after hitting a new record high of HK$276.8.
Cogobuy (00400) plunged 22% to HK$7.8 before trading is halted, following the report by Blazing Research rating the company at "Strong Sell" with target price of HK$0.53. Peers Meitu (01357) and Boyaa (00434) tumbled 7.22% and 4.35% to HK$9 and HK$3.74.
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