Hong Kong shares end at 2-yr high, buoyed by consumer, tech stocks

HONG KONG, July 24 (Reuters) – Hong Kong shares rose to two-year highs on Monday, resuming their rally after a brief pause last week, helped by consumer and technology stocks.

Hong Kong’s benchmark Hang Seng Index ended 0.5 percent, or 140.74 points, higher at 26,846.83, while the Hang Seng China Enterprises Index finished 0.3 percent higher at 10,820.95.

The HSI rose 1.3 percent last week, but had eased on Friday after nine straight sessions of gains.

Analysts had seen Friday’s slowdown as a breather after the rapid run-up, adding they didn’t expect the weakness to persist.

Gaming business Galaxy Entertainment and builder CK Infrastructure Holdings were among the index’s biggest gainers, up 4 percent and 3.7 percent respectively.

Auto maker and retailer Geely Automobiles Holdings was the top percentage gainer, surging 5.9 percent, aided by a positive profit alert earlier this month and a tie-up with Volvo Car Corp last week.

Technology shares were taken higher by a 1.8 percent gain in Tencent Holdings. (Reporting by Rushil Dutta in Hong Kong; Editing by Kim Coghill)

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