* HK-> Shanghai Connect daily share used 15%, Shanghai-> HK daily share used 7.1%
* HSI + 0.5%, HSCE + 0.6%, CSI300 + 2.4%
* FTSE China A50 + 2.2%
April 19 (Reuters) – Hong Kong shares closed higher on Monday, driven by a rebound in industrial and healthcare firms, but big names in technology have faltered amid lingering regulatory concerns that have narrowed earnings on market.
** The Hang Seng Index rose 0.5% to 29,106.15, while the China Business Index gained 0.6% to 11,092.95.
** Leading the earnings, the Hang Seng Health Index and the Hang Seng Industrial Index added 3.1% and 2.2%, respectively, as investors cheered China’s strong economic growth in the first quarter.
** China’s economic recovery accelerated sharply in the first quarter, up 18.3% from last year’s deep coronavirus recession, driven by stronger demand at home and abroad and continued government support for smaller firms .
** However, the tech giants weakened, Alibaba lost 1.5% and pushed the IT Hang Seng index 0.1% lower.
** Tencent Holdings Ltd and JD.Com Inc decreased by 0.8% and 0.5%, respectively.
** Ant Group is exploring options for founder Jack Ma to divest its stake in financial technology giant and relinquish control, as meetings with Chinese regulators have signaled to the company that the move could help draw a line under control. Beijing on its business, according to a source familiar with the thinking of regulators and two people with close ties to the company.
** China has imposed a comprehensive restructuring plan on Jack Ma’s Ant Group, a fintech conglomerate whose $ 37 billion IPO was derailed by regulators in November, which will see the group become a financial corporation. participations, among others.
** Investors need to pay close attention to technology stocks, which have seen an obvious correction, to get an idea of where the market could go, Central China International brokerage said in a report. (Reporting by Luoyan Liu and David Stanway)