Hang Seng Index up in early trade; Alibaba, Tencent shares gain

Hong Kong benchmark Hang Seng Index rallied to begin Friday trade, on the back of positive US-China trade updates.

Hong Kong benchmark Hang Seng Index gained 0.43% to begin the week’s final trading day (Friday 06 December), hitting 26465.7 by mid-morning, according to IG trading figures.

This has been the strongest day by far this week, trading at least 500 index points above the trough.

IG Asia Market Strategist Jingyi Pan attributed the increase to ‘closer contact’ between US and Chinese trade officials, as well as the global anticipation for a trade deal ahead of the December 15 US tariffs on Chinese goods.

‘For Asia markets, mild gains look to be the tone kickstarting the Friday against the current backdrop. The wait continues for the outcome of the trade talks with any trade deal pertinent to keep this atmosphere going past next week,’ said Pan.

In line with this sentiment, property and technology stocks also gained.

The Hang Seng property sub-index rose as much as 0.8%, while the information technology sub-index swelled by 1.5%, according to market data.

Property developers Henderson Land Development Co Ltd rallied 0.7% to HK$37.75 per share; Sun Hung Kai Properties Limited surged 1.1% to HK$113.10 per share, and New World Development Co Ltd increased 0.8% to HK$10.12 per share.

On the technology front, Chinese competitors Tencent Holdings Limited and Alibaba Group Holding Limited stocks each climbed 1.2% and 1.7% respectively to a price per share of HK$333.80 and HK$195.60 each.

The top gainer in the IT sector, however, was AAC Technologies Holdings Inc, with a boost of 8.27%.

Chinese H-shares, which are shares of companies incorporated in mainland China that are traded on the Hong Kong Exchanges and Clearing, grew 0.54% to 10,377.1 in early proceedings. The biggest gainer was Want Want China Holdings with a 2.79% price hike.

Practise trading indices with an IG demo account now

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.