Hong Kong shares rose for the fifth consecutive day on Tuesday, helped by inflows from investors who like the plan by Asia’s richest man, Li Ka-shing, to split his conglomerate into two listed companies.
Analysts said the Li’s business restructuring plan has improved investor sentiment towards Hong Kong and increased attention on local shares.
The Hang Seng index rose 0.8 per cent to 24,215.97 points, while the China Enterprises Index gained 0.4 per cent to 12,063.02 points.
Among the most actively traded stocks on Hong Kong’s main board were CASH Financial Services Group Ltd, up 10.3 per cent at HK$0.32, Kong Sun Holdings Ltd, unchanged at HK$1.18 and China Construction Bank, up 0.2 per cent at HK$6.41.
Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.63 billion yuan ($101.59 million) of the 10.5 billion yuan daily quota.
Total trading volume of companies included in the HSI index was 1.4 billion shares. ($1 = 6.2015 Chinese yuan renminbi)