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Hong Kong Market rebounds 0.8%
(15:50, 27 Sep 2023)
Hong Kong share market finished session higher on Wednesday, 27 September 2023, as investors chased for bargain hunting after government data showed industrial profit for Chinese companies reversed declines for the first time this year.

Industrial profits for Chinese firms rose by 17.2% from a year earlier in August, the first increase this year, according to the National Bureau of Statistics released on Wednesday. The data lifted hopes the world's second largest economy may have reversed its recent downtrend.

At closing bell, the benchmark Hang Seng Index advanced 144.97 points, or 0.83%, to 17,611.87. The Hang Seng China Enterprises Index climbed up 39.07 points, or 0.65%, to 6,069.84.

Among blue chips, Alibaba Group Holding climbed 0.7% to HK$84.50. Hansoh Pharmaceutical Group rallied 4.3% to HK$10.78 and Wuxi Biologics gained 3.7%, to HK$44.55. China Merchants Bank added 1.9% to HK$32.45 and rose 1% to HK$113.40.

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