Skip to Content

Why Hong Kong Shares Just Touched a 9-Month High

Hong Kong Skyline As China Traders Flee to City In Record Stock-Buying StreakHong Kong Skyline As China Traders Flee to City In Record Stock-Buying Streak
The Hong Kong Convention and Exhibition Centre, center, the Cheung Kong Center, right, and other buildings standing illuminated and shrouded in clouds are seen from Victoria Peak at night in Hong Kong, China, on Wednesday, April 6, 2016.Bloomberg Bloom Justin Chin — Bloomberg via Getty Imagesberg via Getty Images

Hong Kong shares finished at a fresh nine-month high on Monday, as depressed global interest rates pushed some stock investors to hunt for yields in emerging markets.

Sentiment was also buoyed by buoyant China stocks, which jumped to seven-month highs on optimism that Beijing will roll out more policy easing measures to prop up the flagging economy.

The Hang Seng index rose 0.7%, to 22,932.51, while the China Enterprises Index gained 1.6%, to 9,708.89 points.

See also: Why the NYSE Sees ‘Double-Digit’ Asian IPOs Through 2017

Most sectors rose, with financial and IT stocks leading the gains.

Vanke shares maintained strong upward momentum, rising to a seven-month closing high.

 

Shares of AAC Technologies Holdings (AAC) jumped 3.6% to an all-time high, as the miniature technology components maker is being included as a constituent of the Hang Seng index.