Epic Research Singapore : Hang Seng Update

The Hang Seng Index HK:HSI +0.57% edged up 0.4% to 23,008.26. Mainland banks shined, after China's central bank said it has provided emergency funding support to commercial banks to meet demand for cash ahead of Chinese New Year. Agricultural Bank of China Ltd. HK:1288 +2.06% ACGBF -4.44% rose 2.4%, and both Bank of China Ltd. HK:3988 +1.79% BACHY -1.13% and Industrial & Commercial Bank of China Ltd. HK:1398 +2.30% IDCBF -2.27% gained 2.1%. 

Lenovo Group Ltd. HK:992 +3.54% LNVGF -2.26% climbed 3%, after the Chinese personal computer maker said it's in talks for a possible acquisition. News reports said Lenovo is talking to IBM IBM +0.70% about buying its low-end server business. Other technology shares also headed higher, as Tencent Holdings Ltd. HK:700 +0.48% TCTZF +3.13%S&P 500 Stock added 0.8%, and software developer Kingsoft Corp. HK:3888 -1.58% KSFTF +0.30% picked up 0.2%. Market heavyweight HSBC Holdings PLC HK:5 +0.06% HSBC +0.43% slipped 0.1%, after it announced its subsidiary HSBC Bank Middle East Ltd. has agreed to sell its banking business in Jordan to Arab Jordan Investment Bank for an undisclosed amount. On the mainland, the Shanghai Composite Index CN:SHCOMP +0.64% rose 0.2%. 

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