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Hong Kong Higher, Led by Tech Names

EQUITIES
Hong Kong stocks are higher again today, China Mainland stock lag the move, the gains by Hong Kong indices are being spurred on by strong earnings from US Tech giants. PBoC has pledged 150b yuan worth of low-cost funds for lending to housing and infrastructure in the past month, this brings the outstanding amount of the program to 3.4 trillion yuan, according to the central bank statement.
  • Hong Kong indices are all in the green today, the Mainland housing index is higher by 4.6% on the back of the central bank statement overnight. Elsewhere the tech index is higher by 2.35%, tech giants Meta, Amazon and news that Tencent has been given regulatory approval for their DnF game. Hang Seng is currently 2% higher
  • China Mainland indices are lagging the move higher by Hong Kong indices, with the CSI300 currently trading 0.50% higher while the ChiNext lower by 0.35%, investors are still cautious around recently policy announcements about supporting the markets, while China Evergrande ordered liquidation weighs of the minds of investors.

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