The H-share index surges ahead of third-quarter earnings reports
Hong Kong and mainland shares continued to benefit yesterday from global money flows into Asian equities, with the H-share index hitting a near five-year high as international investors sought out China plays ahead of third-quarter results announcements.
The Hang Seng Index rose 79.57 points, or 0.67 per cent, to a fresh 16-month high of 11,800.37.
The H-share index jumped 109.77 points, or 3.16 per cent, to 3,576.47.
Overseas investors built positions in mainland companies on the expectation their earnings would continue to benefit from the booming Chinese economy.
Sinopec Yizheng Chemical Fibre jumped 17.55 per cent to $1.54 after the firm said profit for the first nine months would rise more than 50 per cent year on year due to increasing demand and cost-cutting.