Hong Kong stocks edge up 68 points to reclaim 24,000 mark; turnover falls to HK$98.1bn

Hong Kong shares recovered from an early drop to close 68 points higher, breaching the 24,000-point level. Trading turnover fell to HK$98.1 billion, while technology and property stocks showed mixed results.

Hong Kong shares ended a volatile session with a modest gain on 5 October, reclaiming the 24,000-point mark as trading turnover dipped below HK$100 billion. The Hang Seng Index, which fell nearly 140 points in early trading, recovered to close at 24,040 points, up 68 points or about 0.3 per cent. Main board turnover fell to HK$98.1 billion, according to RTHK.

The technology index rose more than 0.6 per cent to close at 4,183 points. Performance among the so-called ATMXJ stocks — Alibaba, Tencent, Xiaomi and JD.com — was mixed. Chip and artificial-intelligence large-model stocks performed well, with Zhipu AI climbing more than 6 per cent. Lenovo Group rose nearly 5 per cent, making it the best-performing blue-chip stock.

HSBC and Hong Kong Exchanges and Clearing both rebounded, though gains were limited. AIA fell about 0.4 per cent again.

Property and rental stocks came under pressure. Wharf Real Estate Investment, Henderson Land and MTR Corporation fell between nearly 2 per cent and more than 3 per cent. Longfor Group also dropped more than 3 per cent, while Sun Hung Kai Properties and CK Asset Holdings fell about 1 per cent or more.