Hong Kong share market finished session at four-week high on Thursday, 06 April 2023, as risk sentiments underpinned on fresh evidence of China economic recovery after private survey showed that China's services activity accelerated in March.
A private purchasing managers' index of China's services industry compiled by Caixin rose to 57.8, its highest level since November 2020, staying above the expansionary zone of 50 for the third consecutive month. That was in line with an official PMI report released last week by the statistics bureau, which confirmed a solid pickup in the services sector.
However, market gains capped amid risk of rising political tension between Beijing and Washington after a meeting between the US House speaker and Taiwan's president Tsai Ing-wen in California on Wednesday, eight months after his predecessor Nancy Pelosi visited the island, which is seen as a renegade province by Beijing.
At closing bell, the benchmark Hang Seng Index added 56.61 points, or 0.28%, to 20,331.20. The Hang Seng China Enterprises Index rose 18.58 points, or 0.27%, to 6,894.05.
Among blue chips, E-commerce operator JD.com slid 4.2% to HK$157.20, Baidu lost 3.8% to HK$141.20 and Meituan slumped 1% to HK$132.60. On the flip side, Alibaba Group Holding rose 0.9% to HK$96.50 and Semiconductor Manufacturing International Corp rallied 7% to HK$22.30.
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