Hong Kong stocks rise to decade high

Published: November 08, 2017 12:22:54 | Updated: November 08, 2017 12:26:09


Hong Kong stocks rose to a fresh decade high on Wednesday morning, powered by investor enthusiasm for tech stocks, as shares in China Literature Ltd doubled in their red-hot debut.

The Hang Seng index added 0.3 per cent, to 29,079.92 points by lunch break, while the Hong Kong China Enterprises Index gained 0.4 per cent, to 11,688.35, reports Reuters.

In the spotlight was the stellar debut of China Literature, the online publishing arm of Tencent Holdings Ltd.

The stock rose to as much as HK$100 in early trade, compared with its initial public offering (IPO) price of HK$55 per share, underscoring investor eagerness for tech stocks.

Most sectors rose on Wednesday, with tech and consumer sectors both rising roughly 1.0 per cent.

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