HONG KONG: Hong Kong stocks rose the most in three months to a decade-high on Tuesday, led by mainland companies listed in the city, after Beijing kicked off H-share convertibility reform.
The market was also aided by China’s stronger-than-expected factory activity, as well as strong property sales performance during the last week of 2017.
At close of trade, the Hang Seng index was up 596.16 points or 1.99 percent at 30,515.31. The Hang Seng China Enterprises index rose 3.07 percent to 12,068.99. The sub-index of the Hang Seng tracking energy shares rose 2.9 percent while the IT sector rose 2.65 percent, the financial sector was 2.42 percent higher and the property sector rose 2.16 percent.
The top gainer on the Hang Seng was Sunny Optical Technology Group Co. Ltd., up 9.61 percent, while the biggest loser was Galaxy Entertainment Group Ltd. which was down 3.83 percent.
China’s main Shanghai Composite index closed up 1.27 percent at 3,349.052 points while its blue-chip CSI300 index ended up 1.41 percent. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.99 percent.
The yuan was quoted at 6.4992 per US dollar, 0.12 percent firmer than the previous close of 6.5069. The top gainers among H-shares were China Vanke Co. Ltd., up 9.94 percent, followed by Great Wall Motor Co. Ltd., gaining 7.49 percent and Anhui Conch Cement Co. Ltd., up by 5.99 percent.
The three biggest H-shares percentage decliners were Air China Ltd., which was down 1.69 percent, Zhuzhou CRRC Times Electric Co. Ltd., which fell 0.1 percent and CGN Power Co. Ltd., down by 0.9 percent.
About 2.44 billion Hang Seng index shares were traded, roughly 143.6 percent of the market’s 30-day moving average of 1.70 billion shares a day.
At close, China’s A-shares were trading at a premium of 28.83 percent over the Hong Kong-listed H-shares. The price-to-earnings ratio of the Hang Seng index was 13.64 as of the last full trading day, while the dividend yield was 2.9 percent.
The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 1.97 percent on the day at 4,836.67 points.
— Reuters
Hong Kong stocks rise the most in three months to a 10-year high
Hong Kong stocks rise the most in three months to a 10-year high
Riyadh region welcomes 15m tourists by end of Q3
RIYADH: The Riyadh region welcomed 15.1 million tourists from within and outside Saudi Arabia by the end of the third quarter, underscoring the Kingdom’s growing presence on the global tourism map.
In an X post, Saudi Arabia’s Ministry of Tourism said total tourist spending in the region reached approximately SR33 billion ($8.8 billion) during the period, marking an 18 percent year-on-year increase.
Strengthening the tourism sector is a key pillar of Saudi Arabia’s Vision 2030 agenda, as the Kingdom seeks to diversify its economy and reduce reliance on crude revenues. Under the National Tourism Strategy, Saudi Arabia aims to attract 150 million visitors by the end of the decade.
“The Riyadh region recorded growth in its tourism indicators; the capital witnessed a significant increase in the number of visitors and a rise in the volume of tourism spending during the third quarter of 2025,” the Ministry of Tourism said in the post.
The ministry added that the number of tourist rooms in the Riyadh region rose by 34 percent year on year in the third quarter of 2025 to reach 50,000.
According to the ministry, the number of registered tour guides in the Riyadh region climbed to 673 during the third quarter, up 44 percent compared with the same period last year.
Earlier this month, Saudi Arabia’s Deputy Minister of Tourism, Princess Haifa bint Mohammed, said domestic tourism spending in the Kingdom reached SR105 billion by the end of the third quarter of 2025, representing an 18 percent year-on-year increase.
Speaking at the Budget Forum 2026, Princess Haifa said the tourism sector remains one of the most promising drivers of national economic diversification.
In April, data from the Saudi Central Bank, also known as SAMA, showed that inbound tourism spending in the Kingdom surged to a record SR153.61 billion in 2024, marking a 13.82 percent annual increase.
Earlier this month, the Tourism Development Fund announced six agreements and a memorandum of understanding with public and private sector entities during the Development Finance Conference Momentum 2025, strengthening partnerships with a total impact exceeding SR4 billion.
The fund plays a central role in advancing development finance and sector growth as a national enabler, supporting business expansion and broadening the tourism investment base.
