Hong Kong stocks moved higher ahead of China's GDP data

Source: Dukascopy Bank SA
© Scanpix/AP
Hong Kong equities jumped for the fifth day in a row on Wednesday ahead of the key China's data releases due later in the day. Mounting hopes that the POBC may consider stimulus measures in view of slowing economy pushed Hong Kong blue chips higher. Positive data from the US and Europe also lifted Hong Kong equities. The Hang Seng Index advanced by 0.99% to end the session at 21,416.64. Eight out of nine sectors included in the index jumped. The top-gainers were producers of basic materials and consumer services. Aluminum Corp of China (CHALCO) rose 3.54% while Sands China soared 2.32%. Lenders also resumed an ascent, with Construction Bank of China and Bank of East China climbed 1.76% and 1.22%. On the downside were telecommunications, with China Mobile sliding 0.48%.


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