HONG KONG: Hong Kong’s STOCK MARKET rose Thursday for a sixth session, taking gains this week to over 6% as investors rush into the city to snap up Chinese shares that they consider cheap.
The buying frenzy started after Hong Kong returned from a three-day holiday on Wednesday and is setting a range of records, with the busiest trading day ever seen yesterday while Chinese buyers are surging into Hong Kong at their fastest clip ever.
The Hang Seng Index rose as much as 6.4% Thursday to soar past 27000 to highs of 27922.67, before paring gains to 2.7%. The Hang Seng China Enterprises Index, a gauge of Hong Kong listings of Chinese companies, did even better and reached gains of as much as 7.3%.
