Hong Kong stocks rebounded on the 30th. The Hang Seng Index closed at 24,613.27, up 0.36% from the previous day, with dip-buying dominant, particularly in mainland Chinese bank stocks offering high dividend yields.
Hong Kong stocks rebounded on the 30th, with the Hang Seng Index closing at 24,613.27, up 0.36% from the previous day. The market initially fell during the day, but moved higher as dip-buying spread ahead of the National Day holiday period beginning next week.
Mainland Chinese bank stocks supported the dip-buying, with buying dominant on the back of their high dividend yields. State-owned bank stocks, including Industrial and Commercial Bank of China and China Construction Bank, led the broader market higher.
Pharmaceutical stocks also moved, with WuXi AppTec among those specifically cited. Overall, it was a day centered on sector rotation into bank stocks.