Market Update: HSI up 0.47%, trades higher as developed markets rebound

The Hang Seng Index reversed its loss as it closed up by 133.42 points or 0.47% at 28,755.34 on Thursday. This comes as recoveries were observed in developed markets.

Top performers for the day were Meituan which rose by 3.47% or $292, Sunny Optical Technology Group which went up 3.32% or $196.3, and Anta Sports Product with 3.27% or $135.6 in gains.

The Tech Index also turned green as it climbed 94.74 points or 1.16% at 8,279.74.

On Wall Street, all three benchmarks fell across the board as US President Joe Biden plans to propose a capital gains tax hike.

S&P 500 slipped 38.44 points or 0.92% at 4,134.98, whilst Dow Jones Industrial fell 321.41 points or 0.94% at 33,815.90. NASDAQ also edged down 131.81 points or 0.94% at 13,818.41.

Meanwhile, the FTSE 100 index closed up 42.95 points, or 0.62%, at 6,938.24, due to higher retail stocks. FTSE 250 also grew 279.14 points, or 1.26%, at 22,364.87