HONG KONG (Nikkei Markets) -- On the first day of trading in the new year, Hong Kong shares were poised for their best single-day performance in six weeks, helped by robust gains for Chinese lenders and property developers listed in the city.
By the noon lunchbreak on Tuesday, the Hang Seng Index had risen 1.7% to 30,421.26, heading for its biggest increase since Nov. 21. Country Garden Holdings jumped 9% after surging 243.3% in 2017. China Overseas Land & Investment and China Resources Land advanced 5.2% and 5%, respectively. China Construction Bank (CCB) and Industrial & Commercial Bank of China (ICBC) climbed 3.1% and 2.5%, respectively. The Hang Seng China Enterprises Index, a gauge of mainland companies listed in the city, rose 2.8% by midday. Tencent Holdings, Hong Kong's most valuable company, added 2.3% after rising 114% last year.
