Hang Seng Breaks Through 25,000, Alibaba Leads
The Hang Seng Index rallied again on Thursday (July 16th) in Hong Kong trading. The index rose 1.3%, or 327.5 points, to 25,008.60, marking its highest close since June 4th.
This strengthening indicates that investor sentiment towards the Hong Kong market remains quite solid. The index's rise was also supported by the movement of the majority of stocks in the green zone throughout trading.
Alibaba Group was the largest contributor to the Hang Seng's rise, with its shares rising 3.1%. Alibaba's rise helped bolster the trade and industrial sector, which led the day's gains.
Meanwhile, Pop Mart International recorded the largest gain on the index, surging 6.9%. Overall, 71 of the 93 stocks in the Hang Seng Index closed higher, while 22 stocks fell. All sectors moved higher, indicating that the Hang Seng's rally this time around was fairly even. (asd)
Source: Newsmaker.id