Alibaba, Tencent, pharma stocks fuel best rally in two weeks as China inflation report boosts stimulus bets
Hong Kong stocks advanced, halting a six-day decline as tech companies fueled the biggest market rally in two weeks. A government report showing slower inflation in China helped boost the outlook for more monetary easing to shore up the economy.
$Hang Seng Index(800000.HK$ climbed 2.6% at 19,342.98 at the local noon trading break, the most since August 25. $Hang Seng TECH Index(800700.HK$ surged 2.8%, as a technical reading showed the recent slump was near exhaustion level. $SSE Composite Index(800146.HK$ gained 0.7%.
$BABA-SW(09988.HK$ jumped 3.1% to HK$89.95 while $TENCENT(00700.HK$ advanced 1.7% to HK$307.00. $HANSOH PHARMA(03692.HK$ gained 3.2% to HK$13.58 and $CSPC PHARMA(01093.HK$ added 2.6% to HK$7.96. $TECHTRONIC IND(00669.HK$ surged 2.6% to HK$94.95 while $COUNTRY GARDEN(02007.HK$ jumped 14% to HK$2.51.
$BABA-SW(09988.HK$ jumped 3.1% to HK$89.95 while $TENCENT(00700.HK$ advanced 1.7% to HK$307.00. $HANSOH PHARMA(03692.HK$ gained 3.2% to HK$13.58 and $CSPC PHARMA(01093.HK$ added 2.6% to HK$7.96. $TECHTRONIC IND(00669.HK$ surged 2.6% to HK$94.95 while $COUNTRY GARDEN(02007.HK$ jumped 14% to HK$2.51.
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Norton Symantec : Hi, do you think HS index will up next week and hit 20k?
KuriesOP Norton Symantec: I can't make predictions.
But now it's down.
Norton Symantec KuriesOP: Today worst, dropping like no tomorrow