Hong Kong stocks gain on first trading day of Year of the Ox

SCMP

19 Feb 2021

Hong Kong stocks gained on the first trading day of the Year of the Ox after investors returned from a long holiday weekend, tracking Asia-Pacific markets higher on optimism over a global economic recovery and roll-out of Covid-19 vaccines.

The Hang Seng Index rose 1.9 per cent to 30,746.66, rising to its highest level since June 12, 2018 after ending the Year of the Rat on a high.


“Market sentiment is very feverish, even in the absence of money [from the mainland] coming through the Stock Connect,” said Louis Tse Ming-kwong, managing director of Wealthy Securities. “Investors are anticipating a gradual economic recovery, as more people [around the world] are taking vaccines.”


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