Headline indices of the Hong Kong stock market finished session higher on Tuesday, 14 April 2020, as investors risk appetite buying continued on beaten down industries after trading resumed for the first time after the Good Friday and Easter Monday holidays. Meanwhile, better-than-expected prints of China trade numbers for March and hopes that coronavirus (COVID-19) is near to the peak also pleased the share buyers. At closing bell, the benchmark Hang Seng Index added 0.56%, or 135.07 points, to 24,435.40. The Hang Seng China Enterprises Index rose 0.37%, or 36.35 points, to 9,847.47.
Stocks were helped by better-than-expected trade data for March from Chinese customs officials. China's exports were down 6.6% in dollar terms in March compared with a year ago, the General Administration of Customs announced on Tuesday.
That was considerably better than the expected 14% drop. In another promising sign, China's imports fell 0.9% in March from a year earlier, much better than the expected decline of 9.5%. That appeared to indicate that Chinese factories were loading up on materials to process as their overseas competitors began to shut down because of the coronavirus pandemic. The modest fall in imports was also striking because China the world's largest importer of oil, iron ore and other raw materials has been the biggest winner from recent plunges in global oil prices.
Markets have closely monitored China's trade data expecting it to reflect how the country's broader economy has fared since the authorities ordered gradual work resumption to limit the economic damage caused by the epidemic.
For the moment, sentiment continues to be driven by hopes for a quick recovery from coronavirus disruptions, along with unprecedented fiscal and monetary support measures rolled around the world.
Among blue chips, Tencent (0700) added 1% to HK$395.2, AIA (1299) increased by 0.6% to HK$72, Ping An Insurance (2318) won 1.5% at HK$77.4, and HSBC (0005) advanced by 1.5% at HK$41.6.
Shares of smartphone suppliers fell, as China Academy of Information and Communications Technology said mainland smartphone shipments dropped by 23.3% in March. AAC Technologies (2018) declined by 3.2% at HK$39.15 and Sunny Optical Technology (2382) shed 2.8% to HK$109.3.
Meituan Dianping (3690), China's largest food-delivery platform, fell by 1.4% at HK$95.85, after a restaurant association in Guangdong alleged that it charged onerous commissions to restaurants during the virus pandemic.
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