Business
Hong Kong Stocks Ascend on Back of Chinese Export Boost and Alibaba Rally, Despite Mainland Developers’ Decline
Shares in Hong Kong increased due to Alibaba's surge and robust export figures from China, as mainland developers experienced a drop.
The Hang Seng Index saw an increase of 0.2 per cent, reaching 17,234.09 on Tuesday. This comes after a decline of up to 0.4 per cent in previous trading, which brought it up from a low point it hadn't seen in three weeks. The Tech Index also experienced growth, with a 0.4 per cent increase, while the Shanghai Composite Index rose by 0.3 per cent, recovering from its lowest point in eight months.
On Tuesday, markets saw an increase following new customs information revealing an unforeseen surge in China's exports for August. The growth in exports escalated to 8.7 per cent in August, up from 7 per cent in July, exceeding predictions of 6.6 per cent and recording the quickest rate since March 2023.
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.