Press Releases in Hong Kong

Hong Kong stocks mark worst year in a decade

SHANGHAI – Hong Kong stocks rose on Friday but marked their worst yearly performance in a decade.

The Hang Seng index added 1.2 percent to 23,397.67 points, but slumped 14.1 percent this year. The Hang Seng China Enterprises Index gained 1.7 percent to 8,236.35, but posted the biggest annual drop since 2009 with a 23.3 percent plunge.

Tech giants surged 3.6 percent, tracking overnight gains in their Wall Street-listed shares.

However, the tech index has plunged more than 30 percent this year.

Outlook for the battered sector remained divergent, with some analysts seeing current valuations attractive while others thought uncertainty remained an overhang.

Healthcare gained 3.4 percent on the day, but lost 27.7 percent in 2021.

Mainland developers listed in Hong Kong gained 1 percent, with Evergrande up 6 percent.