Monday, 05 June 2023 12:50 GMT

Hong Kong Stock Market Closes Higher on Tuesday

(MENAFN) Hong Kong's stock market closed higher on Tuesday, with the benchmark Hang Seng Index up 1.36 percent to end at 19,258.76 points. The index's gain was attributed to positive sentiment in the market, with investors optimistic about the global economic recovery and the rollout of COVID-19 vaccines.

The Hang Seng China Enterprises Index also rose on Tuesday, gaining 1.24 percent to close at 6,549.78 points. The index tracks Chinese companies listed in Hong Kong and is seen as an indicator of mainland China's economic health. The index's rise was supported by strong gains in the financial and property sectors.

Meanwhile, the Hang Seng Tech Index gained 2.45 percent to close at 3,965.17 points. The index includes Hong Kong-listed technology companies, and its rise was driven by gains in heavyweight tech firms such as Tencent and Alibaba.

The positive performance of Hong Kong's stock market on Tuesday follows a recent period of volatility, with concerns over the global economic impact of the COVID-19 pandemic and tensions between China and the United States weighing on investor sentiment. However, recent developments such as the rollout of vaccines and the prospects of a new US administration have helped to buoy market confidence.

Hong Kong's stock market is an important hub for international investors, particularly those looking to invest in Chinese companies. Its performance is closely watched as an indicator of investor sentiment towards the region's economy and the broader global market.


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