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Hong Kong stocks have best day in four months, financials lend support
July 11, 2017 / 8:32 AM / 3 months ago

Hong Kong stocks have best day in four months, financials lend support

SHANGHAI, July 11 (Reuters) - Hong Kong stocks extended this week’s rally, posting their best day in four months on Tuesday, bolstered by strong gains among financial sector stocks.

The Hang Seng Index rose 1.5 percent, to 25,877.64 points, while the China Enterprises Index gained 2.0 percent, to 10,416.20 points.

An index tracking major financial plays rose 1.9 percent, mirroring strong gains in mainland peers.

The market was also boosted by a robust rally in Geely Automobile Holdings Ltd, whose shares leapt 7.5 percent to a record high, as the automaker saw strong profit growth for the first half.

Shares of Sunac China Holdings Ltd raced 13.7 percent on the resumption of trade on Tuesday, a day after the acquisitive developer agreed to buy tourism projects and hotels from Chinese property giant Dalian Wanda Group for $9.3 billion.

The southbound quota for the Shanghai-Hong Kong Connect , currently set at 10.5 billion yuan, saw net inflows of 2.4 billion yuan ($352.98 million), continuing the strong momentum in the past two weeks. ($1 = 6.7992 Chinese yuan) (Reporting by the Shanghai Newsroom; Editing by Sam Holmes)

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