Hong Kong shares show big gains

Hong Kong stocks rocketed 3.26 per cent as bargain hunting and Wall Street gains created buying impetus. The benchmark Hang Seng Index jumped 639.22 points to close at 20,260.10. Turnover reached HK$55.8 billion.

How was the mood?

Fund manager Kenny Tang said hopes of central-bank support measures had lifted sentiment. The rebound came as investors bought into the dip after recent falls.

Which stocks led?

Ping An (2318) rose more than 5%; Li & Fung (0494) climbed 7.39% to HK$13.36; Esprit (0330) gained 8.15% to HK$11.42. On the mainland, the Shanghai Composite added 18.58 points to 2,511.74.

What’s the outlook?

Analyst Sunny Wong sees support at 19,000–19,500 but says the market still hinges on overseas economic data and policy news. MPF members should remember equity funds swing sharply in the short term — take the long view.

Compare long-term equity fund performance at MPF fund comparison.