HK Shares Close Higher On Vaccine News

The government’s announcement on Friday that it has secured 15 million doses of Covid-19 vaccines boosted local shares, with the Hang Seng Index gaining 95 points, or 0.4 percent to 26,505.

The HSI surged more than 300 points at one stage, before the gains were pared in the afternoon session. Market turnover was HK$135 billion.

Mainland oil giants CNOOC was the top-gainer on the index, surging more than 6 percent.

The rally comes after oil prices rose, with Brent Crude rising above US$50 a barrel for the first time since March.

On its debut on the local bourse, mainland toy maker Pop Mart International rose 80 percent higher than its issue price, closing at HK$69 a share.

Next Digital climbed almost 10 percent in response to news that its founder Jimmy Lai has been charged with the national security law offence of colluding with foreign forces.

Markets across the border, however, closed the week with losses over escalating Sino-US tensions.

The Shanghai Composite Index lost 0.8 percent while the blue-chip CSI-300 index dropped one percent.

Elsewhere in the region, the Nikkei in Japan posted its first weekly fall in six weeks, and slipped 0.4 percent.

But South Korea and Taiwan rose, with the Kospi earning nearly one percent to reach another record high.