STOCKS | Hong Kong Shares Hit One-Month High As Turnover Falls

Hong Kong shares rose more than 1% as the Hang Seng Index hit a one-month high and moved back above the 25,000-point mark, while the Hang Seng China Enterprises Index also gained more than 1%. The Hang Seng Index's 10-day moving average crossed above its 50-day moving average and briefly moved above its 100-day moving average, according to Ming Pao. The move came after Alphabet again raised its forecast for capital expenditure this year, lifting chip stocks and helping South Korean shares lead regional gains, with the benchmark rising more than 4.4% in the afternoon. Japanese shares also stayed higher, while Taiwan and A-shares turned lower. Mainboard turnover fell below HK$300 billion to the lowest level in more than two months, Northbound trading turnover dropped 34% to a near three-month low, its share fell to 20%, and northbound funds outflow widened to HK$4.2 billion.