Hang Seng Index hit the day-low at 24,450 and concluded at 24,507, down 88 pts or 0.36%. Hang Seng China Enterprises Index slipped 15 pts or 0.1% to 11,720. Market turnover decreased to $85.126 billion.
Alibaba's share price plummeted nearly 9% last night, and related shares headed south. ALI PICTURES (01060.HK) and ALI HEALTH (00241.HK) tumbled 7.2% and 3.8% respectively. SINOSOFT TECH (01297.HK) gave up 1.7%. TENCENT (00700.HK) slid 1.9% to $132.
BOC HONG KONG (02388.HK), reportedly mulling the disposal of Nanyang Commercial Bank, saw an uptick of 2% in share price. DAHSING BANKING (02356.HK) and DAH SING (00440.HK) rallied 6.6% and 3.2% respectively.
As Hong Kong private residential property completions hit an 8-year high last year, local property shares headed towards different directions. CHEUNG KONG (00001.HK) advanced 2.1%, NEW WORLD DEV (00017.HK) gained 1.5% and SHK PPT (00016.HK) leaped 1.2%.
CHINA MOBILE (00941.HK), with a loss of 1.7%, dragged down the market. HSBC HOLDINGS (00005.HK) edged up 2%. STANCHART (02888.HK) sank 1.5% further.
AAStocks Financial News
Web Site: www.aastocks.com