Hong Kong share market finished session higher on Tuesday, 29 March 2022, extending yesterday winning streak, as the prospect of resumption of peace talks between Russia and Ukraine boosting investor sentiment.
Meanwhile, the market was underpinned by expectations that Chinese authorities could announce moves to support growth after reports that the People Bank of China could reduce bank reserve requirements to support credit expansion and prop up economic growth.
At closing bell, the benchmark Hang Seng Index advanced 1.12%, or 242.66 points, to 21,927.63. The Hang Seng China Enterprises Index advanced 1.58%, or 116.75 points, to 7,513.
Alibaba Health Information Technology and online food delivery giant Meituan led the gains in Hong Kong stocks, rising at least 5.8% each.
Alibaba Group Holding, owner of this newspaper, added 2.2% to HK$113.50 and Tencent Holdings advanced 3% to HK$377.20. Electric-vehicle maker BYD climbed before its earnings release late on Tuesday.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU