|
HSI Flat as Weak Mainland Shares Weigh
The Hang Seng Index rose 0.01% to close at 21,093.82 on Thursday, July 29, in main board trading turnover of HK$56.32 billion. The Hang Seng China Enterprises Index declined 0.26%.
Banks fell, with China CITIC Bank (0998.HK, 601998.SH) down 1.12%, Bank of China (3988.HK, 601988.SH) losing 0.48% and Bank of Communications (3328.HK, 601328.SH) declining 0.46%.
Big-cap coal companies suffered losses, too. China Coal Energy (1898.HK, 601898.SH) and China Shenhua (1088.HK, 601088.SH) withdrew 1.61% and 1.14%, respectively. Yanzhou Coal (NYSE:YZC, 1171.HK, 600188.SH) lost 1.06%.
Airliners outperformed the index, with China Southern Airlines (NYSE:ZNH, 1055.HK, 600029.SH) up 3.57% while Cathay Pacific Airways (0293.HK) and China Eastern Airlines (0670.HK, 600115.SH) rose 2.51% and 0.48%, respectively. China Southern Airlines said in a Shanghai Stock Exchange filing that it expects to report year-on-year growth in first half net profits of 5,000%.
Geely Auto (0175.HK) gained 11.32%. Geely plans to complete its acquisition of Volvo next week, Bloomberg reported citing unnamed sources. China's Ministry of Commerce has given Geely clearance for the buy, Chengdu Evening News reports.
|
