Hang Seng Hovers Near 30,000 in Best Start to Year Since 1985
- Hong Kong gauge rallies after closing at highest in 20 months
- Afternoon push comes after Alibaba shares jump on Ma’s video
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Hong Kong’s Hang Seng Index hovered mere points away from the 30,000 level on Wednesday as mainland traders continued to flood the market with cash.
The benchmark closed up 1.1% to 29,962.47 points, with an intraday high just 6.5 points shy of reaching the milestone last seen in May 2019. The index was given a boost in the afternoon after Alibaba Group Holding Ltd. co-founder Jack Ma resurfaced. He had been out of public view for months, and his appearance on a livestream sent shares of the tech company up as much as 11%, the most since July.