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Budget News

  • Hong Kong Market gains on bargain hunting
  • December 01,2021  18:00
  • Hong Kong stock market finished session higher on Wednesday, 01 December 2021, as investors scooped up battered shares after the key indices touched its lowest level in 14 months on Tuesday. Meanwhile, bargain buying was also underpinned after China's Vice Premier Liu He pledged enhanced support for businesses and expects a strong 2021.

    At closing bell, the benchmark Hang Seng Index rose 0.78%, or 183.66 points, to 23,658.92. The Hang Seng China Enterprises Index added 0.69%, or 57.75 points, to 8,426.24.

    Shares of technology companies gained on bottom fishing. e-commerce giant rose 0.5% to HK$341.40.

    Shares of casinos companies extended their slumps after arrests happened in Macau over alleged links to cross-border gambling and money laundering. Worries over a crackdown in the world's largest gambling hub grew as embattled gambling group Suncity Group Holdings has closed all of its VIP gaming rooms in Macau after its chairman was arrested. Galaxy Entertainment Group fell 2.9% to HK$41.40. Sands China dropped 4.2% to HK$17.16. Wynn Macau plunged 8.6% to HK$6.35.

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