Hong Kong stocks fell on Thursday, led by energy shares, as investors took profits after the benchmark Hang Seng Index rebounded 8 percent over the past week. The Hang Seng index ended down 0.7 percent at 22,354.91 points, while the China Enterprises Index lost 1.0 percent to 10,287.41. Investors sold Hong Kong stocks despite strong gains in mainland China markets as they reopened after a week-long holiday, reflecting lingering concerns about China's slowing economy ahead of a flurry of economic data and company earnings reports in coming weeks.
Almost all major sectors in Hong Kong fell, with energy shares the hardest hit after bouncing sharply over the past few sessions on a rebound in global oil prices. Oil giants Sinopec and PetroChina both lost over 1 percent, while CNOOC plunged 5.5 percent. Bucking the trend, Power Assets Holdings Ltd rose xxx percent, after Li Ka-shing's Cheung Kong Infrastructure Holdings Ltd (CKI) sweetened an $11.6 billion offer to acquire the power and utility firm. Movie theatre equipment maker IMAX China Holding Inc and lingerie manufacturer Regina Miracle International (Holdings) Ltd staged strong market debuts in Hong Kong, after they raised a combined $460 million in their initial public offerings.
Comments
Comments are closed.