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Hong Kong's benchmark stock index rose for a 10th session in a row on Monday, aided by bullish sentiment in global equity markets, and inbound investment from the mainland. Asian shares crept toward all-time peaks on Monday after Wall Street boasted its best start to a year in over a decade, with brisk economic growth and benign inflation proving a potent cocktail for risk appetite.
Chinese investors continued to pile into Hong Kong stocks via the Shanghai-Hong Kong Stock Connect, with nearly a quarter of the daily quotas under the scheme used up on Monday. At close of trade, the Hang Seng index was up 84.89 points or 0.28 per cent at 30,899.53. The Hang Seng China Enterprises index rose 0.19 per cent to 12,235.19.
he sub-index of the Hang Seng tracking energy shares rose 0.8 per cent, while the IT sector rose 0.94 per cent, the financial sector was 0.2 per cent lower and property sector rose 1.56 per cent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd, up 7.4 per cent, while the biggest loser was AAC Technologies Holdings Inc, which fell 2.33 per cent.
China's main Shanghai Composite index closed up 0.54 per cent at 3,410.0 points, while its blue-chip CSI300 index ended up 0.52 per cent. Around the region, MSCI's Asia ex-Japan stock index was 0.33 per cent firmer. The yuan was quoted at 6.4919 per US dollar at 08:12 GMT, 0.04 percent weaker than the previous close of 6.4887.
The top gainers among H-shares were Air China Ltd up 6.57 per cent, followed by China Shenhua Energy Co Ltd gaining 5.12 per cent and Huatai Securities Co Ltd up by 4.5 per cent. The three biggest H-shares percentage decliners were Zhuzhou CRRC Times Electric Co Ltd, which was down 3.29 per cent, Guangzhou Automobile Group Co Ltd, which fell 2.2 per cent and New China Life Insurance Co Ltd, down 1.9 per cent.
About 2.07 billion Hang Seng index shares were traded, roughly 118.2 per cent of the market's 30-day moving average of 1.75 billion shares a day. The volume traded in the previous trading session was 2.33 billion. At close, China's A-shares were trading at a premium of 27.51 per cent over the Hong Kong-listed H-shares.
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