* HK-> Shanghai Connect daily quota uses 15%, Shanghai-> HK daily quota uses 7.1%
* HSI + 0.5%, HSCE + 0.6%, CSI300 + 2.4%
* FTSE China A50 + 2.2%
April 19 (Reuters) – Hong Kong stocks closed higher on Monday, led by a resurgence in healthcare and industrial companies, but big tech names faltered amid lingering concerns about regulations dampening gains in the market.
** The Hang Seng Index rose 0.5% to 29,106.15, while the China Enterprises Index rose 0.6% to 11,092.95.
** The Hang Seng Healthcare Index and Hang Seng Industrials Index led earnings, adding 3.1% and 2.2% respectively, as investors applauded China’s solid economic growth in the first quarter.
** China’s economic recovery accelerated sharply in the first quarter to record 18.3% growth from last year’s deep downturn in the coronavirus, driven by stronger demand at home and abroad and continued government support for smaller businesses.
** However, tech giants weakened, with Alibaba losing 1.5% and pushing the Hang Seng IT index 0.1% lower.
** Tencent Holdings Ltd and JD.Com Inc declined 0.8% and 0.5% respectively.
** Ant Group is exploring options for founder Jack Ma to divest and relinquish control of his stake in the financial technology giant as meetings with Chinese regulators signaled the company that the move could help establish a line move under Beijing’s supervision of its activities, according to a source familiar with the thinking of regulators and to two people with close ties to the company.
** China has imposed a major restructuring plan on Jack Ma’s Ant Group, the fintech conglomerate whose record $ 37 billion IPO was derailed by regulators in November, turning the group into a financial holding company, among other things.
** Investors should pay close attention to technology stocks, which have undergone a marked correction, to have an idea of where the market could be headed, brokerage Central China International said in a report. (Reporting by Luoyan Liu and David Stanway)