Hong Kong stock market rebounded from four-month low on Friday, 14 May 2021, as investors chased for bargain hunting, thanks to positive lead from Wall Street overnight after comments from Federal Reserve officials helped ease inflation fears.
At closing bell, the benchmark Hang Seng Index advanced 1.11%, or 308.90 points, to 28,027.57. The Hang Seng China Enterprises Index added 0.63%, or 64.96 points, to 10,404.95.
The sub-index of the Hang Seng tracking commerce & industry sector fell 0.03%, while the utilities sector added 0.47%, the properties sector added 0.13%, and the finance sector added 2.7%.
Federal Reserve Governor Christopher Waller said increases in prices above the Federal Reserve s 2 percent goal should be temporary and the Fed will not raise rates until it sees inflation above target for a long time.
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Hong Kong stock market finished session higher on Tuesday, 04 May 2021, as investors chased for bargain hunting after more than 3% losses in previous two sessions, with energy stocks leading the gains.
At closing bell, the benchmark Hang Seng Index added 0.7%, or 199.60 points, to 28,557.14. The Hang Seng China Enterprises Index climbed up 0.49%, or 52.72 points, to 10,765.72.
The sub-index of the Hang Seng tracking energy shares rose 2.3%, while the IT sector edged up 0.05%, the financial sector climbed 0.78% and the property sector gained 0.52%
Shares of with energy companies advanced on tracking strength in crude oil prices.
Sinopec led gainers among blue chips, rising 4.1% to HK$4.08, while PetroChina added 3.5% to HK$2.92