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The Hang Seng confirms its recovery trend after adding another 7%

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Shanghai (China), March 17 (EFE).- The benchmark index of the Hong Kong Stock Exchange, the Hang Seng, closed today with a significant rise of 7.04% in the second consecutive day of recovery after the initial crashes of week .

The signs of support for the stability of the capital markets by the Chinese Government managed to reverse the mood of investors, very negative in the previous days due to the resurgence of the covid in Hong Kong and mainland China, as well as due to the War in Ukraine.

The selective added 1,417.73 points to 21,501.23, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market, the Hang Seng China Enterprises, advanced and 7.52%.

Among the sub-indices, the biggest rise was Real Estate (9.46%), followed by Commerce and Industry (8.21%), Finance (5.51%) and Services (2.3%).

The optimism among investors in real estate values ​​comes after Beijing’s decision to stop this year the extension of the pilot tests for a harmonized tax on real estate, as well as the Executive’s request to find “timely, powerful and effective solutions to prevent and resolve risks” in the sector.

Thus, the biggest rises today, by far, were those of the developer Country Garden (28.41%) and its property management subsidiary, CG Services (30.42%).

Further away, but still with a significant double-digit rise, were the biotechnological solutions company for pharmaceutical companies Wuxi Biologics (19.79%) or the e-commerce platform JD.com (15.85%).

The heavyweights of the parquet today also followed the positive trend, with gains of 6.27% for Tencent, 12.46% for Alibaba or 4.07% for the banking giant HSBC.

The trading volume of the session is 300,960 million dollars in Hong Kong (38,483 million dollars, 34,797 million euros).

c) EFE Agency

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