April 23 (Reuters) – Hong Kong shares rose on Friday, led by tech and healthcare plays amid signs of a flare-up in coronavirus in some Asian countries.
** The Hang Seng index rose 1.1%, to 29,078.75, while the China Enterprises Index gained 1.2%, to 11,067.84 points.
** Healthcare stocks jumped over 3% amid renewed concerns over COVID-19.
** Indonesia will stop issuing visas for foreigners who have been in India in the past 14 days to prevent the spread of different coronavirus strains, a government minister said on Friday.
** COVID-19 cases have also been rising in countries such as India, and Japan.
** The market was also bolstered by a robust rebound in tech stocks. The Hang Seng Tech Index gained 2.3%.
** Hong Kong shares of Ping An Insurance (Group) Co of China Ltd rose the most in seven weeks before paring gains to end 1% higher, after its first-quarter results.
** Chi Lo, senior economist at BNP Paribas Asset Management, said that China’s central bank is handling a complicated dual-mandate of derisking the financial system and preventing any financial accidents while sustaining GDP growth.
** He predicts that any policy loosening will likely only happen in the second half of the year.
** Many Chinese companies are listed in Hong Kong, making its market vulnerable to Beijing’s monetary policy changes. (Reporting by the Shanghai Newsroom; editing by David Evans)
