SHANGHAI: Hong Kong shares ended lower on Thursday, weighed down by tech giants and healthcare stocks, while real estate gained on official assurances concerning the sector's debt crisis. The Hang Seng index fell 0.5% to 26,017.53, while the China Enterprises Index was unchanged at 9,273.57 points.
The Hang Seng Tech Index finished 0.8% lower. Food delivery giant Meituan dropped 1.8%, dragging the Hang Seng benchmark down 45 points. The healthcare sub-index lost 2.3%. The real estate sector added 2% as more Chinese officials sought to reassure investors and homeowners on Wednesday over a debt crisis afflicting the country's property sector.
Vice Premier Liu He told the Financial Street Forum in Beijing that overall risks in the property market are controllable, and the property market is on track for healthy development, state media Xinhua reported. However, China Evergrande Group slid more than 12% in resumed trade on Thursday after a deal to sell a $2.6 billion stake in its property services unit fell through.
Evergrande has won a more than three month extension on a defaulted bond, financial information provider REDD reported. Ping An Insurance Group jumped more than 7%, the second biggest intraday gainer on the Hang Seng Index, after it reported that net profit for the first three quarters rose more than 30% year on year.
Comments
Comments are closed for this article.