Hong Kong shares rise, led by tech and financials

Hong Kong shares rose on Monday after China vowed to advance the opening up of its financial sector, with technology and financials stocks leading the gains. The Hang Seng index rose +1.0%, to 26,163.63, while the China Enterprises Index gained +0.9%, to 9,371.15 points.

** China’s central bank and financial regulators vowed over the weekend to increase the high-level opening of the financial sector by optimising institutional arrangements and improving regulations, the official China Daily reported. ** Hang Seng Tech Index added 0.7%, and the Information Technology sub-index jumped 2%.

** Index heavyweight Tencent Holdings surged 3.5%, after official China Daily reported that it planned to launch a WeChat personal cloud service. Tencent also conducted a share buyback for HK$ 102.3 million last week. ** E-commerce giant Alibaba Group and food-delivery giant Meituan were up 1.9% and 1.1%, respectively.

** The financials subindex gained 1.1%. Constituent AIA Group went up 2.3% and pushed the Hang Seng Index up 47 points. ** BYD Co Ltd jumped 7.2% and was the biggest daily gainer on the Hang Seng Index, after the carmaker tripled its sales volume of new energy vehicles in August from a year ago.

** WuXi Biologics gained 3.9%, the second biggest daily gainer on the Hang Seng Index. The healthcare sub-index added 2.4%. ** Indebted China Evergrande Group declined 0.8%, its bonds were suspended from trading by both Shanghai and Shenzhen Exchanges as prices slumped.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)