HKEX Strong First-Half Results Help Hong Kong Stocks Recover
Hong Kong stocks were little changed around 25,468 as HKEX rose 1.6% after reporting strong first-half results, including 19% revenue growth, 24% attributable profit growth and a 24% higher interim dividend.
The Hang Seng Index was little changed around 25,468 on Wednesday, recovering from an earlier decline as HKEX shares gained 1.6% to HK$411.40 following the exchange operator’s strong first-half results.
Revenue rose 19% year-on-year, attributable profit increased 24%, and the interim dividend was lifted 24%, providing support to market sentiment.
At the same time, Hong Kong and China Gas climbed after posting a 23% increase in first-half profit, helping support the broader market.
Still, gains were capped by a cautious global backdrop, with investors digesting a selloff in technology shares, elevated US Treasury yields, higher oil prices, and renewed Middle East tensions that weighed on risk appetite across Asian markets.
Notable movers included Xiaomi (5.1%), Tencent (0.9%), and Meituan (1.9%).
In contrast, SMIC and China Unicom declined 4.6% and 12.8% respectively.