Market Update: HSI ends week up 1.12% on tech, healthcare gains

The Hang Seng Index (HSI) closed the week up by 323.41 points or 1.12% at 29,078.75 amidst gains in tech and healthcare shares due to fears over COVID-19 resurgence.

Top performers for Friday were Alibaba Health Information Technology which rose by 5.31% or $23.8. This was followed by Meituan which jumped 4.93% or $306.4, and Wuxi Biologics (Cayman) with 4.36% or $115 in gains.

The Tech Index also increased 188.01 points or 2.27% at 8,467.75.

However, Asian stocks traded mixed after reports of US President Joe Biden proposing to raise taxes on capital gains.

Meanwhile, Wall Street indexes closed the week on a rise amidst a solid economic activity, brushing off the reports on capital gains tax hike.

S&P 500 climbed by 1.09% or 45.19 points to 4,180.17. The Dow Jones Industrial increased by 0.67% or 227.59 points to close at 34,043.49, whilst the NASDAQ jumped by 198.40 points or 1.44% at 14,016.81.

London's blue-chip index ended the week flat, with the FTSE 100 gaining merely 0.32 points or 0.01% to close at 6,938.56 despite the UK's positive economic data and as European markets continue to struggle.

The FTSE 250 also inched up 0.03% or 7.39 points to close at 22,372.26.

 

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!