Hong Kong stocks extended gains into a fourth day on Thursday, as a strong reading on China trade data bolstered hopes that the world’s second-largest economy would sustain growth momentum throughout the year.
The Hang Seng Index rose 0.5 per cent to 25,041.03 at the noon break, adding to an aggregate 1.6 per cent gain over the past three days. The Hang Seng Tech Index also rose by 0.5 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.1 per cent.
Alibaba Group Holding rallied 2.4 per cent to HK$119.50 and parcel delivery firm ZTO Express jumped 5 per cent to HK$164.40. Chipmaker Semiconductor Manufacturing International added 3 per cent to HK$54.20 and China Mobile lost 0.1 per cent to HK$85.50 before the disclosure of interim reports later on Thursday.
“China’s exports supported the economy strongly so far this year,” said Zhang Zhiwei, chief economist at Pinpoint Asset Management in…
