• Open an account Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Home > News > Global News

  • Hong Kong Market gains 0.94%
  • August 16,2019  16:18
  • The Hong Kong share market finished higher on Friday, 16 August 2019, as bargain hunting bolstered by hopes that the Chinese government will dip into its coffers to provide financial stimulus to further boost consumption and shore up falling growth amid the trade war. At closing bell, the Hang Seng Index advanced 0.94%, or 238.76 points, to 25,734.22. The Hang Seng China Enterprises Index rose 0.61%, or 60.89 points, to 9,964.30. The gauge fell 0.8% during the week, the fourth week of declines, weighed down by lacklustre corporate earnings and the impact of escalating protests that earlier brought the city's airport to a standstill for two consecutive days.

    Blue chips were mixed. HSBC (00005) dipped 0.5% to HK$56.5. HKEX (00388) jumped 2.9% to HK$245. Tencent (00700) slipped 1.2% to HK$326.4. China Mobile (00941) nudged up 0.1% to HK$66.05. AIA (01299) rose 1.6% to HK$76.

    Shares of consumer linked companies gained on hopes of China's government stimulus measures after official retail sales earlier in the week were weaker-than-expected. Traders are optimistic about the consumer market in mainland China, because they expect the government is going to use fiscal policies to stimulate the economy. Consumer market is the main indicator of the economy. The government is likely to further reduce tax in the second half of the year. China's state planner said on Friday it will roll out a plan to boost disposable income this year and in 2020 to spur consumption as the economy slows, but it gave few details. Hong Kong-listed consumer stocks like China Mengnui Dairy and apparel company Shenzhou International Group Holdings followed the trend, rising 3.9% and 4.8%, respectively.

    Property stocks advanced as investors picked out bargains from one of the worst-performing industry groups on the Hang Seng Index. Sun Hung Kai Properties rose 3.1%, Link Real Estate Investment gained 2.4%, and Henderson Land Investment added 2.3%. New World Development (00017) soared 6.3% to HK$10.42. Hang Lung Properties (00101) added 0.8% to HK$17.66. CK Asset (01113) gained 4.1% to HK$53.6.

    Pharmaceutical counters were higher ahead of earnings reports. CSPC Pharmaceutical (01093) shot up 4% to HK$12.44. Sino Biopharmaceutical (01177) gained 4% to HK$9.42. WuXi AppTec (02359) jumped 4.9% to HK$76. China Resources Pharmaceutical (03320) shot up 3.9% to HK$7.74. WuXi Biologics (02269) added 1.1% to HK$79.9. 3SBio Inc. (01530) put on 2.9% to HK$12.

    Powered by Capital Market - Live News

Top News
Economy News

Follow us:

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Comtrade Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Investments and Advisors Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid upto 27/01/2020 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.

OUR OTHER WEBSITES Go
IMPORTANT LINKS Go
QUICK LINKS
Go

Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Sitemap
Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory