Hong Kong stocks hit six-month high on recovery prospects

Hong Kong stocks closed higher on Monday as China streamlined Covid-19 control measures, while regulators hatched a plan to boost liquidity in the real estate sector, which analysts see as a major sticking point. of inflection.

But China’s A-stocks ended lower amid a surge in domestic Covid-19 cases in the country.

Hong Kong’s Hang Seng Index rose 1.7% after jumping 7.7% on Friday.

The CSI 300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed with a gain of 0.15%, while the Shanghai index fell 0.13%.

Hong Kong-listed real estate stocks were the highlight, rising 14%.

Property developers Country Garden and Longfor Group recovered up to 46% and 16% respectively.

Two sources told Reuters that a communiqué to financial institutions from the Chinese central bank and the China Securities and Banking Regulatory Commission outlined 16 measures to support the sector, including loan repayment extensions.

On Friday, China announced 20 measures to ease some of its Covid-19 control policies, while quarantine times for travelers entering the country were shortened.

. In TOKYO, the Nikkei index fell 1.06% to 27,963 points.

. In HONG KONG, the HANG SENG index rose 1.70% to 17,619 points.

. In SHANGHAI, the SSEC index lost 0.13% to 3,083 points.

. The CSI300 index, which gathers the largest companies listed in SHANGHAI and SHENZHEN, advanced 0.15%, to 3,794 points.

. In SEOUL, the KOSPI index lost 0.34% to 2,474 points.

. In TAIWAN, the TAIEX index rose by 1.19% to 14,174 points.

. In SINGAPORE, the STRAITS TIMES index gained 1.01% to 3,260 points.

. In SYDNEY, the S&P/ASX 200 index fell 0.16% to 7,146 points.

(Reporting by Summer Zhen)