Hong Kong stocks rose slightly as investors awaited catalysts after digesting the US Federal Reserve’s hawkish pivot on interest rates next year. Tencent Holdings’ plan to introduce a gifting feature on its WeChat platform boosted tech shares.
The Hang Seng Index rose 0.1 per cent to 19,774.22 at the noon break on Friday, after dropping as much as 0.3 per cent. The benchmark has fallen 1 per cent this week, erasing gains for the five-day period that were driven by prospects of fresh economic stimulus.
The Hang Seng Tech Index advanced 0.7 per cent. On the mainland, the CSI 300 Index increased 0.3 per cent and the Shanghai Composite Index added 0.5 per cent.
Tencent led the gains with a 3.1 per cent jump to HK$428.00, following the tech giant’s plans to test a function by a WeChat-based shopping platform that allows users to give gifts priced less than 10,000 yuan (US$1,370). Chipmaker SMIC jumped 10.5 per cent to HK$28.90, and…
