Hong Kong Stocks Inch Up in Shortened Trading Session Ahead of Lunar New Year Break; Samsonite Gains on U.S. Listing Plan

MT Newswires Live

Feb 16

Hong Kong equities finished slightly higher on Monday in a shortened trading session ahead of the Lunar New Year holidays.

The Hang Seng Index rose 138.82 points, or 0.5%, to finish at 26,705.94, while the Hang Seng China Enterprises Index added 37.61 points, or 0.4%, to close at 9,070.32.

Trading volumes were light as investors locked in profits and reduced exposure ahead of the holiday period.

Markets are also looking ahead to key data later in the week, including global manufacturing surveys and U.S. fourth-quarter gross domestic product figures due on Friday.

Median forecasts point to annualized U.S. growth of 3%, easing from 4.4% in the previous quarter, according to a Reuters report.

Hong Kong's financial markets will be closed for the Lunar New Year holidays and reopen on Friday, Feb. 20.

In corporate news, AB&B Bio-Tech (HKG:2627) closed over 10% higher after saying it will be added to the Hang Seng Composite Index from March 9.

Samsonite International (HKG:1910) also gained more than 2% after saying it is exploring a potential dual listing in the U.S.

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