Hang Seng Index posted losses for three straight days. It eventually tumbled 272 pts or 1.1% to 24,193, falling below the 50MA (24296). Hang Seng China Enterprises Index declined 140 pts or 1.2% to 11,597. Market turnover increased to $92.125 billion.
AIA (01299.HK) slid 2.6% after rallying for three days. HSBC HOLDINGS (00005.HK) fell 0.5% on the ex-dividend day. However, STANCHART (02888.HK) bounced 4% as the company maintained a final dividend of US57.2 cents despite a 37% decrease in 2014 profit.
Mainland banks headed south. Four big banks dropped 1.1%-1.6%. BANKCOMM (03328.HK) shed 2.2%.
As funds flowed into the defensive sector when the market turned bearish, CHINA MOBILE (00941.HK) rallied 1.7%. CHINA UNICOM (00762.HK) elevated 2.8%. In addition, SMARTONE TELE (00315.HK) surged 6.4%.
WHARF HOLDINGS (00004.HK) receded 2.4% on worries of the possible tightening measures for individual visitor schemes (IVS). LUK FOOK HOLD (00590.HK) declined 4.3% after recording a 20% decrease in same store sales during the Chinese New Year. CHOW SANG SANG (00116.HK) and CHOW TAI FOOK (01929.HK) tumbled 3.1% and 2.2% respectively.
Environmental stocks extended the previous bullish trend. HANERGY TFP (00566.HK) soared 14% with accumulated gains of over 61% in four days as it was just added into the FTSE China 50 Index. JUNYANG SOLAR (00397.HK) rocketed 70.3%. SOLARGIGA (00757.HK), COMTEC SOLAR (00712.HK) and GCL-POLY ENERGY (03800.HK) closed higher by 24.6%, 9.4% and 3.9% respectively.
CHINA CNR (06199.HK), MELCO CROWN (06883.HK), GOLDIN FIN HOLD (00530.HK) and ALI PICTURES (01060.HK) were included in the FTSE Hong Kong Indices and recorded gains of 5%, 4.3%, 1.5% and 10.7% respectively.
AAStocks Financial News
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