AGL 40.29 Increased By ▲ 0.09 (0.22%)
AIRLINK 130.29 Increased By ▲ 1.18 (0.91%)
BOP 6.29 Decreased By ▼ -0.31 (-4.7%)
CNERGY 4.04 Increased By ▲ 0.01 (0.25%)
DCL 8.82 Increased By ▲ 0.37 (4.38%)
DFML 42.75 Increased By ▲ 1.50 (3.64%)
DGKC 87.41 Increased By ▲ 0.41 (0.47%)
FCCL 33.78 Increased By ▲ 0.43 (1.29%)
FFBL 65.90 No Change ▼ 0.00 (0%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.75 Increased By ▲ 3.05 (2.76%)
HUMNL 16.10 Increased By ▲ 0.87 (5.71%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.99 Increased By ▲ 0.16 (2.04%)
MLCF 42.05 Increased By ▲ 0.15 (0.36%)
NBP 61.10 Increased By ▲ 0.60 (0.99%)
OGDC 184.79 Increased By ▲ 1.99 (1.09%)
PAEL 25.55 Increased By ▲ 0.19 (0.75%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.55 Decreased By ▼ -1.26 (-0.85%)
PRL 24.56 No Change ▼ 0.00 (0%)
PTC 16.47 Increased By ▲ 0.23 (1.42%)
SEARL 70.45 Decreased By ▼ -0.05 (-0.07%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.28 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.13 Increased By ▲ 0.28 (3.57%)
TREET 15.87 Increased By ▲ 0.57 (3.73%)
TRG 51.44 Decreased By ▼ -0.26 (-0.5%)
UNITY 27.46 Increased By ▲ 0.11 (0.4%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,893 Increased By 51.1 (0.52%)
BR30 30,290 Increased By 253.7 (0.84%)
KSE100 93,026 Increased By 505.2 (0.55%)
KSE30 28,881 Increased By 94.4 (0.33%)

Hong Kong shares were largely flat on Tuesday as property stocks recovered from a fall caused by weaker-than-expected bids at a government land auction. The benchmark Hang Seng Index gained 19.22 points, or 0.1 percent, to close at 21,499.44. Turnover was 34.4 billion Hong Kong dollars (4.4 billion US dollars).
Two parcels of residential land sold Monday in the city's New Territories for a total of 10.4 billion Hong Kong dollars (1.3 billion dollars US), less than what the market had estimated, analysts said. But negative market reaction to the news was overstated, they added. "High land cost is never good news to developers anyway," Sylvia Wong, an analyst at UOB KayHian, told Dow Jones Newswires.
Paul Louie, an analyst at Nomura, told Dow Jones: "Although the market may be initially disappointed, the auction actually shows good discipline by the developers." The Hang Seng's property sub-index rose 1.2 percent after falling 0.7 percent Monday.

Copyright Agence France-Presse, 2009

Comments

Comments are closed.