Hong Kong stocks fell from three-week highs on Tuesday, as investors took profit ahead of Federal Reserve Chairman Jerome Powell's first congressional testimony. The southbound leg of the Shanghai-Hong Kong Stock Connect saw record net outflows of 2.9 billion yuan ($459.88 million). The Hang Seng index fell 0.7 percent, to 31,268.66, while the China Enterprises Index lost 1.5 percent, to 12,646.54.
The sub-index of the Hang Seng tracking energy shares dipped 0.9 percent while the IT sector fell 1.32 percent. The financial sector was 0.61 percent lower, while property sector dipped 0.89 percent. The top gainer on Hang Seng was AIA Group Ltd, up 3.72 percent, while the biggest loser was Country Garden Holdings Co Ltd, which was down 3.91 percent.
As of the previous trading session, the Hang Seng index was up 5.28 percent this year, while China's H-share index was up 9.6 percent. As of the previous close, the Hang Seng has declined 4.22 percent this month. The top gainers among H-shares were Huaneng Power International Inc up 3.18 percent, followed by Dongfeng Motor Group Co Ltd gaining 2.42 percent and Zhuzhou CRRC Times Electric Co Ltd up by 1.16 percent.
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