Hong Kong equities jumped on positive national data

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Source: Dukascopy Bank SA
© Scanpix/AP
Hong Kong shares advanced for the sixth consecutive session on Thursday. China's GDP grew by 7.4% in Q3, signaling that China's economic slowdown is stabilizing. The country's industrial production and retail sales also beat estimates last month, boosting market sentiment. Moreover, positive data from the US real estate market lifted Hong Kong shares. The Hang Seng Index gained 0.48% to close at 21,518.71. Six out of nine sectors included in the index rose. Telecommunications and basic materials were the top-performers. China Mobile and China Unicom Hong Kong jumped 2.16% and 0.62% while Aluminum Corp of China (CHALCO) soared 2.80%. China Coal added 2.50% ahead of its earnings report scheduled on Monday. At the same time, technology sector dropped, with Tencent sliding 0.99%. China Life Insurance tumbled 1.09% after the firm warned that it can incur a quarterly loss in Q3.


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