HSI Heads South On Renewed Covid Concerns

Hong Kong stocks closed the morning session on a negative note as the recent vaccine-induced rally gave way to concerns about fresh lockdowns as virus cases surge around the world.

The Hang Seng Index fell 0.57 percent, or 150 points, to 26,394.

Across the border, mainland shares gained ground on Thursday, led by consumer stocks, as investors cheered a report of Beijing's latest measures to boost domestic consumption amid the coronavirus outbreak.

The CSI300 index rose 0.4 percent to 4,912 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent to 3,351.

The tech-heavy start-up board ChiNext and the STAR50 index added 0.7 percent and 0.6 percent respectively.

China will expand consumption of cars and consumption in rural areas, according to a report by state broadcaster CCTV, citing a meeting of the cabinet chaired by Premier Li Keqiang.

China will also promote the consumption of home appliances and catering, CCTV reported. (Reuters/AFP)