January 14, 2025 at 03:57 am EST
(MT Newswires) -- Hong Kong stocks rose on Tuesday from a four-month low following a pledge made by the China Securities Regulatory Commission other authorities to stabilize the securities market, addressing investors' concerns, and stabilizing expectations.
The Hang Seng Index rose 1.83%, or 345.64 points, to close at 19,219.78 on Tuesday. The Hang Seng China Enterprises Index rose 2.10%, or 143.65 points, to end at 6,987.36.
In its 2025 work conference on Monday, the CSRC announced it will make all efforts to stabilize the securities market including working with the central bank to improve the structural monetary policy tools, address market concerns, and stabilize expectations.
Moreover, the People's Bank of China Governor Pan Gongsheng said Beijing will raise foreign exchange reserves allocated to assets in Hong Kong and boost connectivity between the city and the mainland's financial markets. The central bank will also help guide more high-quality companies to list and issue bonds in Hong Kong.
In market News, Weimob jumped nearly 27%, Meituan closed over 5% higher followed by Xiaomi (HKG:1810) closing nearly 3% higher. Tencent, Alibaba Group , and Semiconductor Manufacturing International all closed over 2% higher on Tuesday.
In corporate news, Coastal Greenland's subsidiary Dalian Jinrijunjian Paradise agreed to surrender a land parcel to Dalian Jinpu New District Natural Resources Bureau for a compensation of 109 million yuan. The shares of the company closed over 20% higher on Tuesday.
Zhejiang Leapmotor Technology achieved a positive net profit in the fourth quarter of 2024, attributable to the sustained growth in sales volume, with a monthly average of 40,000 units, raising the shares of the company nearly 13% on Tuesday's close.

Sumber : MT Newswires