2nd October 2024 – (Hong Kong) The Hong Kong stock market exhibited robust performance following the holiday period, with the Hang Seng Index opening 155 points higher at 21,289 on the first trading day of October. The index later surged by 705 points to reach 21,839, ultimately closing up 700 points, or 3.31%, at 21,834. The Hang Seng China Enterprises Index increased by 275 points, or 3.66%, to 7,785, while the Technology Index rose by 260 points, or 5.48%, to settle at 5,012. The main board recorded a turnover of HK$67.3 billion.
Large-cap technology stocks provided significant support to the market, with Tencent rising by 2.2%, Alibaba gaining 2.4%, and Meituan soaring by 8.6%. JD.com increased by 7%, Xiaomi climbed 5.5%, and Kuaishou saw a rise of 5.3%.
In the financial sector, stocks showed mixed results; HSBC Holdings fell by 2%, while AIA gained 1.2%, China Ping An surged by 4.4%, and Hong Kong Exchanges and Clearing rose by 7.1%.
Automobile stocks also saw gains, with XPeng up by 0.9%, NIO rising by 3%, Li Auto increasing by 8.5%, and BYD gaining 3.9%.
Real estate stocks were particularly favoured, with Longfor Group climbing by 9%, China Resources Land rising by 5.9%, and China Overseas Land Development increasing by 4.6%.
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