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Home / International Markets / Hong Kong stocks gain for 3rd day on strength in financials, materials
Hong Kong stocks gain for 3rd day on strength in financials, materials

Hong Kong stocks gain for 3rd day on strength in financials, materials

HONG KONG: Hong Kong shares rose for a third straight session on Wednesday, as investors continued to chase mainland financials and materials firms. The Hang Seng index finished 0.2 percent higher at 27,607.38 points, while the China Enterprises Index gained 0.3 percent to 11,055.42 points. Most sectors advanced, led by materials and industrial firms. Aluminium Corporation of China (Chinalco) rose 4.9 percent to close at a more than 26-month high.

The stock has surged over 60 percent this year, as the state-owned aluminium giant is expected to benefit from China’s supply-side reforms. The excitement about blockbuster earnings from Apple that boosted tech shares in other markets faded, with an index tracking information technology reversing gains to slip 0.1 percent. China’s largest contract chipmaker Semiconductor Manufacturing International Corp still ended 0.9 percent higher.