HSI Ends Higher As Mainland Stocks Outperform

Mainland blue chips surged a 13-year high on Tuesday thanks to optimism towards a quick economic recovery while local stocks recorded modest gains.

The Hang Seng Index put on 156 points, or 0.5 percent, at 29,476 on turnover of HK$149.9 billion.

Energy firms were among the top gainers on the blue-chip index after oil prices reached 13-month highs on fuel demand optimism.

CNOOC, Sinopec and PetroChina each added more than 2 percent.

The most heavily-traded stock, Kuaishou Technology, soared 15.7 percent, after the announcement that the mainland video-sharing company will be added to the Hang Seng Tech Index, the Hang Seng China Enterprises Index as well as other indices and sub-indices.

Across the border, rare earth stocks propelled the blue-chip CSI300 index to its highest level in 13 years, up 2.2 percent.

The Shanghai Composite Index advanced 2 percent while the Shenzhen Composite Index surged 2.4 percent.

Elsewhere in the region, Japan’s Nikkei put on 0.4 percent. But the Kospi in Seoul gave up early gains to finish down 0.2 percent on profit-taking. Singapore edged down 0.1 percent. Australia retreated 0.9 percent.