Hong Kong stocks rose on Wednesday, ending a two-day decline as American investor Cathie Wood’s investment in Alibaba Group Holding sparked risk appetite while the market operated smoothly under the shadow of one of the city’s most severe typhoons.
The Hang Seng Index rose 0.9 per cent to 26,397.98 at the noon break. The Hang Seng Tech Index rose 2.2 per cent. On the mainland, the CSI 300 Index rose 0.7 per cent and the Shanghai Composite Index added 0.6 per cent.
Limiting gains, New Oriental Education & Technology, an online education firm, fell 2.4 per cent to HK$39.68, and toymaker Pop Mart slipped 2.1 per cent to HK$256.60.
Wednesday marked the first time the Hong Kong stock market stayed open during a No 10 storm signal, the highest warning level. This follows the introduction of the stock exchange’s severe weather trading mechanism in September last year, which allows the market to operate even when a No 8 signal or above is in force.
