Feb 16 Hong Kong stocks closed at an 18-month
high on Thursday, with sentiment boosted by Wall Street's
ongoing rally and demand from China.
The benchmark Hang Seng index added 0.5 percent, to
24,107.70 points, the highest since August 2015, while the Hong
Kong China Enterprises Index gained 0.2 percent, to
Analysts said sustained southbound inflows had helped the
Hong Kong stock market. Chinese investors, including mutual
funds and major insurers, have been steadily increasing their
allocations, as regulators on the mainland tighten investments
in wealth management products and other risky assets.
Robert Di, founding partner of hedge fund manager RPower
Capital, said the outlook on Hong Kong stocks was improving, and
the enthusiasm would likely continue for a while.
"If the Hang Seng can break through the 24,000-point level
effectively, then, the bull market is established," Di said.
Mainland investors used 2.1 billion yuan ($306.21 million)
on Thursday, or 20.1 percent of the daily quota, compared with
an average of less than 11 percent in January and 25.6 percent
A gauge of tech stocks added 1.8 percent at the close after
receiving a boost from index heavyweight Tencent Holdings Ltd
The internet giant rose 2.6 percent after media reports said
it was in talks to invest in Indonesia's biggest mobile
ride-hailing and delivery service Go-Jek.
($1 = 6.8581 Chinese yuan)
(Reporting by Jackie Cai and John Ruwitch; Editing by