A pedestrian walks past a bank's digital screen displaying the Hang Seng Index in Central district of Hong Kong, south China, Jan. 19, 2021. The Hong Kong stock market set a new record in total turnover on Tuesday, driven by surging capital inflows, with the benchmark Hang Seng Index nearing 30,000 points. The Hang Seng Index climbed up 779.51 points, or 2.7 percent, to finish at 29,642.28 points. Turnover totaled a record 301.58 billion Hong Kong dollars (about 38.91 billion U.S. dollars). (Xinhua/Lui Siu Wai)
HONG KONG, Jan. 19 (Xinhua) -- The Hong Kong stock market set a new record in total turnover on Tuesday, driven by surging capital inflows, with the benchmark Hang Seng Index nearing 30,000 points.
The Hang Seng Index climbed up 779.51 points, or 2.7 percent, to finish at 29,642.28 points. Turnover totaled a record 301.58 billion Hong Kong dollars (about 38.91 billion U.S. dollars).
The Hang Seng China Enterprises Index gained 271.81 points, or 2.37 percent, to close at 11,734.33 points.
Linus Yip Sheung-chi, the chief strategist at First Shanghai Securities, attributed Tuesday's stellar performance to the relatively lower valuation of the Hong Kong market and the robust buying by mainland, overseas and local investors.
Under the Stock Connect, a program linking Chinese mainland and Hong Kong markets, there was a net influx of 26.5 billion Hong Kong dollars into the Hong Kong market on Tuesday, the highest since the launch of the program. (1 Hong Kong dollar equals 0.1290 U.S. dollar) Enditem
