All
 

 

Just in:  

You are here: Home»Markets»Equity»Asia»Hong Kong stocks end 0.16pc higher

hongkong stock exchange2 40HONG KONG: Hong Kong shares ended 0.16 percent higher in shortened pre-Christmas trade on Monday following big losses at the end of last week.

 

The benchmark Hang Seng Index added 34.89 points to close at 22,541.18 on turnover of HK$22.23 billion ($2.87 billion).

 

Despite the gains Alvin Cheung, associate director at Prudential Brokerage, said the gridlock in the United States on averting the "fiscal cliff" continues to weigh on sentiment.

 

The term refers to tax hikes and spending cuts which will come into effect next week unless the two parties can reach a deal, possibly tipping the US economy into recession.

 

However, Cheung said "window-dressing may push the market a little bit higher... before the year ends".

 

Window-dressing refers to dealers selling shares with large losses and buying well-performing ones to make their books look better.

 

Clothing retailer Esprit bounced back by 1.5 percent to HK$10.88 after losing 13.0 percent in the previous seven trading days on the back of a profit warning.

 

China's second-largest insurer Ping An closed down 0.2 percent at HK$63.10.

 

Chinese shares ended up 0.27 percent. The benchmark Shanghai Composite Index added 5.74 points to 2,159.05 on turnover of 68.0 billion yuan ($10.9 billion).

 

"The market has already formed an upward pattern and even though there is little new news from policymakers, stocks will likely keep moving higher," Zheshang Securities analyst Zhang Yanbing told Dow Jones Newswires.

 

China Merchants Bank jumped 3.03 percent to 12.26 yuan, China Everbright Bank rose 1.41 percent to 2.88 yuan and Industrial Bank climbed 1.38 percent to 15.45 yuan.

 

Drugmakers ended higher on hopes their products will enter a list of essential medicines that will be subsidised and purchased in bulk by the government.

 

Jiangsu Kanian Pharmaceutical gained 6.39 percent to 19.65 yuan while Wuhan Jianmin Pharmaceutical rose 5.13 percent to 14.77 yuan.

 

Copyright AFP (Agence France-Presse), 2012


 



 
Index Closing Chg%
Arrow DJIA 16,804.71 1.40
Arrow Nasdaq 4,422.09 1.59
Arrow S&P 1,946.16 1.32
Arrow FTSE 6,557.52 0.98
Arrow DAX 9,382.03 0.97
Arrow CAC-40 4,365.27 1.15
Arrow Nikkei 16,082.25 0.56
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,567.99 0.23





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln