Hong Kong shares close at highest level since August 2015

By: |
Shanghai | Published: September 1, 2016 2:36:52 PM

Hong Kong shares rose on Thursday and the main index finished at the highest level in more than a year, helped by capital inflows from the mainland.

Investors from mainland China have bought shares in Hong Kong in recent days as preparations for the Shenzhen-Hong Kong Stock Connect proceed.(Representative Image: Reuters)Investors from mainland China have bought shares in Hong Kong in recent days as preparations for the Shenzhen-Hong Kong Stock Connect proceed.(Representative Image: Reuters)

Hong Kong shares rose on Thursday and the main index finished at the highest level in more than a year, helped by capital inflows from the mainland.

The Hang Seng index rose 0.8 percent to 23,162.34 points, the highest since Aug. 19, 2015.

The China Enterprises Index was up 0.7 percent, to 9,606.08 points.

The gains were supported by financial shares with its subindex rising 1.5 percent.

Index heavyweight HSBC Holdings gained 2.8 percent after Deutsche Bank raised its target price and the bank was a co-bookrunner for a special drawing rights denominated bond in China.

Investors from mainland China have bought shares in Hong Kong in recent days as preparations for the Shenzhen-Hong Kong Stock Connect proceed.

The Shenzhen-Hong Kong Stock Connect programme is expected to be launched in mid- or late November, Xinhua state news agency reported on Tuesday, citing an official with the securities regulator.

Chinese investors utilised nearly 40 percent of the total southbound daily quota on Thursday under the Shanghai-Hong Kong Stock Connect scheme.

For latest coverage on Maharashtra Assembly Election 2019 and Haryana Assembly Election 2019, log on to financialexpress.com. We bring you full coverage of Assembly Election 2019 on Financial Express, stay tuned for latest election updates.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.