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<H Shrs>HSI Closes Down 334 Pts as Some CN Insurers Subtract; CN Developers Feeble
Recommend 1 Positive 1 Negative 3 |
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Hong Kong stocks declined. The HSI slipped 334 points or 1.3% to close at 25,760. The HSCEI dropped 154 points or 1.7% to finish at 9,028. The HSTECH lost 89 points or 1.6% to settle at 5,534. Total market turnover for the day shrank to $164.361 billion. For financials, HSBC HOLDINGS (00005.HK) picked up 0.2% following the appointment of Brendan Nelson as Chair. HKEX (00388.HK) and AIA (01299.HK) faded 1.5%. Chinese insurers PICC GROUP (01339.HK) and CHINA LIFE (02628.HK) waned 2.6% and 3.6%, while PICC P&C (02328.HK) cascaded 4% as news of its president being taken away for investigation continued to weigh on its share price. R&F PROPERTIES (02777.HK) slumped 3.1% as its USD note restructuring was approved by 77% of creditors for the extension of the final deadline. Fitch placed CHINA VANKE (02202.HK) on Rating Watch Negative, denting CHINA VANKE's share price by 3%. For other Chinese developers, SEAZEN (01030.HK), SUNAC (01918.HK) and CHINA RES LAND (01109.HK) eroded 2.7-3.1%. AAStocks Financial News Website: www.aastocks.com |
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