Published on 07/02/2025 at 04:42
(MT Newswires) -- Hong Kong stocks returned to the green on Wednesday as mainland funds reportedly appeared to be on track to outpace last year's purchases and Chinese President Xi Jinping called for a unified national market.
The Hang Seng Index rose 149.13 points, or 0.6%, to 24,221.41, while the Hang Seng China Enterprises Index was up 46.60 points, or 0.5%, to 8,724.90.
Mainland funds bought HK$731.2 billion worth of stocks during the first half of the year, or nearly 90% of last year's purchases, the South China Morning Post reported, citing data from the Hong Kong bourse and Bloomberg.
Mainland purchasing in 2024 was already the highest since the Stock Connect link started in 2014, the report said.
Meanwhile, President Xi termed an on ongoing price war across multiple industries in China as "disorderly low-price competition," and signaled the need for regulation, the SCMP reported.
In corporate news, shares of China Hankingfell over 4% at close after the iron ore miner said the sale of 100% equity interest in Primary Gold by unit HGM Resources fell through after it failed to receive the backing of an Australian regulator in time.

Sumber : MT Newswires