April 30, 2025 at 05:07 am EDT
(MT Newswires) -- Hong Kong stocks ended higher on Wednesday as strong earnings countered weak Purchasing Managers' Index data from China.
The Hang Seng Index rose 0.5%, or 111.3 points, to close at 22,119.41. The Hang Seng China Enterprises Index ended marginally higher at 8,076.26.
China's manufacturing output shrank in April as the official PMI fell to 49 from 50.5 in March, indicating that activity moved below the 50-threshold separating growth from contraction.
Despite this, upbeat results and positive developments from index heavyweights buoyed the local equities market.
Hong Kong Exchanges and Clearing gained nearly 2% after it posted record quarterly earnings. The bourse operator's net profit rose 37% to HK$4.08 billion in the first quarter, while revenue and other income surged 32% to a record high of HK$6.86 billion.
Shares of CITIC also advanced 2% after its subsidiary CITIC Securities reported a 32% growth in first-quarter profit to 6.5 billion yuan.
Meanwhile, Xiaomi rose over 5% after it introduced MiMo, its open-source AI reasoning model.
Hong Kong financial markets will be closed tomorrow, May 1, for the Labor Day holiday and will reopen on Friday, May 2.
Sumber : MT Newswires
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