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Hong Kong shares rise 1.1%; Pharma, property sectors lead gains

Dow Jones Newswires ·  Dec 9, 2021 03:53  · Markets

Hong Kong's $Hang Seng Index(800000.HK)$ added 1.1% to 24254.86, supported by pharma and property sectors. China's latest inflation data have proven benign, giving regional markets "a small sigh of relief," Oanda senior market analyst Jeffrey Halley says. 

$ALI HEALTH(00241.HK)$ and $CSPC PHARMA(01093.HK)$ each advanced more than 6%, while $SINO BIOPHARM(01177.HK)$ was 4.3% higher and $WUXI BIO(02269.HK)$ gained 3.1%. 

The property sector strengthened. $COUNTRY GARDEN(02007.HK)$, $CHINA RES LAND(01109.HK)$ and $LONGFOR GROUP(00960.HK)$ rose 2.5%-3.4%.

 Among tech stocks, $BABA-SW(09988.HK)$ climbed 2.3% and $TENCENT(00700.HK)$ was 1.2% higher. Laggards included $NetEase, Inc.-S(09999.HK)$ and $AIA(01299.HK)$, each dropping 0.4%.

(clarence.leong@wsj.com)

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