Sept 17 (Reuters) - Hong Kong shares rebounded after posting their lowest close in 10 months during the previous session, with tech and healthcare leading the gains.
The Hang Seng index rose +1.0% to 24,920.76, while the China Enterprises Index gained +1.5% to 8,940.47 points.
** For the week, the and the lost 4.9% and 4.8% respectively, the highest weekly drop for both since Aug. 20.
** Shares of China Evergrande Group extended falls for the fifth consecutive session, finishing down 3.4% before slumping more than 10% in morning trading, their lowest in nearly ten years.
** Goldman Sachs and JPMorgan warned Evergrande’s crisis could pose spillover risks to the broader Chinese property sector.
** The Hang Seng Property Index edged higher 0.3%. For the week, they lost 8%, the biggest weekly decline since March 2020.
** Property companies Country Garden Holdings, China Resources Land Ltd, Hang Lung Properties rose as investors bought the dips.
** The Hang Seng Finance Index went down 0.5%. Financial companies who have loan exposures to the real estate sector fell sharply.
** The Hang Seng Tech Index jumped 3.5% after losing 1% in previous session. Internet giants Tencent Holdings , Alibaba Group, and Meituan gained 2.4%, 2.2%, and 3.5% respectively.
** The healthcare sub-index surged 5.2%, and Alibaba Health Information Technology and Wuxi Biologics are the top two daily gainers on the Hang Seng Index. (Reporting by Shanghai newsroom; Editing by Andrew Cawthorne)