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Mainland data lifts HK, Shanghai stocks

2020-09-15 HKT 16:42
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  • Traders cheered the data which indicates the mainland is gradually recovering from the impact of virus lockdowns. File photo: RTHK
    Traders cheered the data which indicates the mainland is gradually recovering from the impact of virus lockdowns. File photo: RTHK
Hong Kong stocks finished higher for a third straight session on Tuesday, with investors cheered by vaccine hopes and data pointing to a further improvement in Chinese economy.

The Hang Seng Index added 0.4 percent, to 24,732.

On the mainland, the Shanghai Composite Index rose 0.5 percent, to 3,295 while the Shenzhen Composite Index gained 0.7 percent, to 2,205.

Traders cheered data showing the mainland's retail sales – a key gauge of the crucial domestic consumer sector – rising for the first time since the pandemic struck, beating expectations.

There was also a forecast-beating pick-up in industrial output.

The readings indicate the world's number-two economy is gradually recovering from the impact of virus lockdowns.

"Today's activity data and the MLF injection lend support to our view that Beijing will neither add more easing measures nor start tightening in the near term," wrote Ting Lu, chief China Economist at Nomura.

Seoul, Mumbai, Singapore, Taipei, Manila and Bangkok also rose, though Tokyo, Sydney and Jakarta edged down. (AFP, Reuters)