Chinese stocks listed in Hong Kong rose to a five-month high, buoyed by a rally in tech shares and measures to ease liquidity stress at some of the nation’s too-big-to-fail developers. Know more:
Chinese stocks listed in Hong Kong rose to a five-month high, buoyed by a rally in tech shares and measures to ease liquidity stress at some of the nation’s too-big-to-fail developers.
“Regulatory approval for Ant’s capital raise aids market sentiment and improves the prospects of an eventual IPO for the company, which market may be expecting within the year,” said Vey-Sern Ling, managing director at Union Bancaire Privee. The Hang Seng China Enterprises Index rose 1.9 percent on Tuesday, marking its best start to any calendar year since 2018. The gauge has climbed more than 40 percent since the end of October on hopes that a relaxation of Covid restrictions would revive China’s economy. Morgan Stanley, Bank of America Corp. and Credit Suisse Group AG are among the Wall Street banks that are positioned for further gains in Chinese equities.
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