Press Releases in Hong Kong

Hong Kong shares end higher on Thursday

Hong Kong shares ended higher on Thursday, snapping a seven-day losing streak.

The Hang Seng index rose 0.8 percent to 25,225.19.

The Hang Seng Tech Index gained 1.6 percent, with tech giants Meituan, Alibaba Group and Tencent Holdings up more than 2.5 percent each.

Tencent touted progress in semiconductor chip development and investment on Wednesday, offering a rare public glimpse of its R&D initiatives.

BYD Co Ltd jumped 7.8 percent and was the biggest percentage gainer on the Hang Seng Index, after data showed its total sales volume of new energy vehicles from January to October surged 212 percent year on year.

Healthcare companies lost 1.2 percent, with Wuxi Biologics slumping 4.9 percent, the biggest percentage decliner on the Hang Seng Index.

Property developer Kaisa Group Holdings Ltd plunged 15.1 percent to a record low after it missed a payment on a wealth management product issued by a unit, adding to worries about a cash crunch at the debt-strapped firm.