Heavyweights Shine As HSI Heads Higher

The Hang Seng Index finished Thursday in positive territory while regional markets were mixed, as investors weighed US stimulus hopes and a disappointing American jobs report.

The local benchmark closed 195 points, or 0.7 percent, higher at 26,728, on turnover of HK$135.5 billion.

Heavyweights Tencent and HSBC each rallied more than 2 percent.

Xiaomi rebounded 4.1 percent.

Link Reit soared 5.7 percent, while Wharf Real Estate Investment Company surged 4.2 percent following upgrades by Morgan Stanley.

But mainland banks lagged. China Construction Bank declined 1.9 percent, ICBC retreated 1.7 percent and Bank of Communications tumbled 1.6 percent.

Markets across the border came under pressure after US lawmakers passed a bill that could delist mainland companies from US markets.

The Shanghai Composite index and the blue-chip CSI300 index each lost 0.2 percent.

Elsewhere, the Nikkei in Japan was little changed. The Kospi in South Korea gained nearly 0.8 percent. Australia’s ASX 200 edged up 0.4 percent, led by mining companies after a report that China will allow a long held-up coal shipment from Australia despite a ban. Singapore added a third of one percent. Taiwan was off 0.1 percent after breaching the 14,000-mark.