Hang Seng Index closed higher today, led by the petrochemical sector, while the real estate sector also saw gains. Trip.com rose over 5%.
Petrochemicals, insurance, and real estate are leading the gains, with LOGAN GROUP, POWERLONG, and COUNTRY GARDEN up more than 10%. Semiconductors, automobiles, and pharmaceuticals are among the top decliners.
On June 8th, Hong Kong stocks opened low, and then the three major indexes widened their decline. The Hang Seng Index fell more than 1% at one point. In the afternoon, the index rose, and the decline of the Hang Seng Technology and State-owned Enterprise indexes narrowed, closing at -0.68% and -0.02%, respectively. The Hang Seng Index turned up and closed at 0.25%.
Ctrip rose more than 5%, Zhongan Online rose 2.28%, Bilibili, Meituan, and NetEase rose more than 0.5%, while Yuewen Group fell more than 3%, and Kuaishou, BYD Electronics, and XPENG-W fell more than 2%.
On the market, petrochemicals, insurance, and real estate led the gains, while semiconductors, automobiles, and pharmaceuticals led the declines.
Petrochemicals lead the gains
PETRO-KING rose more than 18%, NAN NAN RES rose nearly 10%, CNOOC rose more than 2.8%, Sinopec rose 2%, and PetroChina rose 1%.
Real estate stocks surge
Real estate stocks surged in the morning and remained active throughout the day. Zhengrong Real Estate rose more than 20%, SKYFAME REALTY and KWG GROUP rose more than 20%, and Logan Group, Baolong Real Estate, and Country Garden rose more than 10%.
Banks and insurance companies lead the gains
VALUE PARTNERS rose nearly 9%, New China Insurance rose more than 3%, and China Everbright Bank, Agricultural Bank of China, and HSBC rose more than 2%.
Automobiles lead the declines
XPENG-W and Wuling Motors fell more than 2%, BYD fell more than 1.5%, Great Wall Motors and Geely Automobile fell 1.47%, and Ideal Automobile fell 1.12%.
Semiconductor opens with a plunge
SHANGHAI FUDAN fell more than 5%, COWELL fell more than 4.5%, SMIC and HG SEMI fell more than 1%.
Biopharmaceuticals pull back
