Hong Kong stocks end higher; Sunny Optical rockets on positive profit guidance
The Hang Seng Index edges up 0.2 per cent to 26,524.94, while the
Shanghai Composite Index rises 0.3 per cent to 3,187.57
Hong Kong shares continued to rise on Tuesday, driven by Chinese insurers and as Sunny Optical surged to a record high after the lens manufacturer issued a positive profit alert.
The Hang Seng Index rose 0.2 per cent, or 54.36 points, to 26,524.94. The Hang Seng China Enterprises Index, also known as the H-share gauge, lost 0.3 per cent, or 27.91 points, to 10,755.28.
Ping An was the most active stock, gaining 0.4 per cent to HK$58.75 while Tencent rose 0.6 per cent to HK$286.8.
Sunny Optical, which makes handsets, digital cameras, vehicle imaging systems and security surveillance systems, advanced 16.88 per cent to a record high of HK$92.45 after the lens manufacturer issued a positive profit alert, predicting an increase of more than 120 per cent in profit attributable to its shareholders during the first half.
China Vanke, the nation’s biggest property developer, was little changed at HK$23.2. On Monday night Vanke said it led a consortium in a buyout offer for Global Logistics Properties, the country’s largest operator of warehouses.
The Shanghai Composite Index rose 0.3 per cent, or 11.10 points, to 3,187.57 while the CSI 300 — which tracks large companies listed in Shanghai and Shenzhen — increased 0.1 per cent or 3.62 points to 3,667.18.