Hang Seng Index rises for fourth straight day, resources and retail lead on policy hopes

Macro
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Summary · why it matters

The Hang Seng Index rose for a fourth consecutive session in Hong Kong on the 30th, closing up 50.96 points, or 0.20 percent, at 25,858.88. The market was supported by the Communist Party of China Politburo meeting's indication of timely practical additional policies for the second half of the year, prompting buying mainly in consumption-related sectors. By sector, coal-related stocks were strong, with Hengding Industrial up 20.5 percent, Honghai High-Tech Resources up 20.0 percent, and Kaishun Holdings up 19.1 percent. In retail, Zhongju Investment surged 43.9 percent, Beida Resources gained 21.0 percent, and Gold Supreme Group rose 12.8 percent. On the other hand, semiconductors were sold off, with Tianshu Zhixin down 14.7 percent, Shengbang Shares down 11.9 percent, and Basic Semiconductor down 10.7 percent. Precious metals and gold mining stocks also struggled, with China Silver Group down 15.1 percent, New Times Group Holdings down 8.6 percent, and Hong Kong Silver Holdings down 4.7 percent. Mainland Chinese markets fell back, with the Shanghai Composite Index closing down 0.62 percent at 3,804.69.

Impact on stocks 4

Information Technology · 1 stocks
Materials · 1 stocks
Artificial Intelligence · 1 stocks

Off-coverage companies 3

BASiC SemiconductorPrivate± Mixed
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New Times Group HoldingsPrivate± Mixed
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Wing Hoi Hi-Tech Resources HoldingsPrivate± Mixed
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