Hong Kong Stocks Lifted By Face Mask Ban Report

Local blue chips erased early losses and closed higher on Thursday, bucking a broad trend in the region amid concern over global economic growth.

The Hang Seng Index dropped more than 250 points in early trading, tracking falls in the region.

But it later changed course on speculation that the SAR government plans to use emergency laws to ban masks at protests.

The index ended the day up 67 points or 0.3 percent at 26,110. Market turnover was more than HK$62.5 billion.

Most blue chips traded higher, with CSPC Pharmaceutical rallying more than 3 percent.

Galaxy Entertainment rose almost 3 percent after data showed tourist arrivals to Macau recorded positive growth over the past two days of the National Day golden week holiday.

Sands China also gained nearly 2 percent.

Shares of the MTR Corporation added 2.3 percent despite widespread vandalism at some of its stations in recent days.

In Japan, the Nikkei Index dropped just over 2 percent. The market in Taiwan fell 0.7 percent and Singapore slipped more than half a percent.

Financial markets on the mainland and in South Korea were closed for a public holiday