Tech and healthcare rally lift Hong Kong shares 271 points at open
Hong Kong shares opened 271 points higher on Wednesday, driven by a tech sector rebound and healthcare share gains. The Hang Seng Index rose 1.14 per cent to 24,139 points, with Lenovo leading blue chips up 6 per cent.
Hong Kong shares opened 271 points higher on Wednesday as the tech sector rebounded and healthcare shares rallied, according to The Standard. The benchmark Hang Seng Index rose 1.14 per cent to 24,139 points.
The tech gauge gained 1.6 per cent to 4,110 points. Lenovo (0992) advanced 6 per cent, leading the blue chips. Tech heavyweight Alibaba (9988) rose 1.2 per cent, Tencent (0700) edged up 0.4 per cent, and JD.com (9618) opened 1.7 per cent higher.
Two blue chips opened lower following mixed third-quarter earnings reports. China Mobile (0941) slipped 0.75 per cent after reporting a 7.9 per cent year-on-year decline in net profit to 106.2 billion yuan (HK$124.81 billion). CATL (3750) posted a 14.5 per cent year-on-year increase in net profit to 21.25 billion yuan, but its shares fell 2.9 per cent.
Biopharma shares also fared well, with Innovent Biologics (1801) and BeOne Medicines AG (6160) gaining 4.3 per cent and 4.1 per cent, respectively. WuXi Biologics (2269) and WuXi AppTec (2359) added 2.8 per cent and 2 per cent.
In the financial sector, HSBC (0005) rose 0.8 per cent and AIA (1299) rose 0.6 per cent.