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Hong Kong Stocks gain on deposit rates cut by major banks

08-Jun-23 16:36 Hrs IST

Hong Kong share market finished session higher on Thursday, 08 June 2023, as investors sentiment underpinned after China's state banks cut deposit rates in attempts to bolster the economy and assuring comments from China's finance regulators that measures are planned to spur economic activity.

At closing bell, the benchmark Hang Seng Index advanced 47.18 points, or 0.25%, to 19,299.18. The Hang Seng China Enterprises Index fell 1.13 points, or 0.02%, to 6,540.03.

Among blue chips, Insurers AIA and Ping An led gains, adding 1.7% to HK$81.30 and 1.1% to HK$53.40 respectively. Food delivery service provider Meituan added 0.7% to HK$124.40. Baidu dropped 1.4% to HK$130.60, Alibaba retreated 0.8% to HK$83.35, while Tencent lost 0.2% to HK$334.80.

Trip.com jumped 5.1% to HK$282.40, after the online travel company released strong revenues and earnings for the first quarter of the year.

24,273.80 -140.60 (-0.58%)

79,364.23 -970.58 ( -1.21%)

54,365.65 -245.25 ( -0.45%)

36,002.45 82.15 ( 0.23%)

41,380.81 245.84 (0.60%)

5,684.33 32.05 (0.57%)

37,492.25 563.62 (1.53%)

8,531.61 -27.72 (-0.32%)

84.70 0.29 (0.35%)

96.08 0.41 (0.42%)

112.96 0.38 (0.34%)

0.59 0.00 (0.19%)