Hong Kong markets fall 0.20 percent Thursday, a fourth straight loss despite a record close on Wall Street, while mainland shares were lifted by hopes of fresh economy-boosting measures from the government. The Hang Seng Index eased 46.31 points to 23,649.31 on turnover of HK$58.33 billion ($7.53 billion). The decline was lead by Lenovo - shares in the personal-computer maker fell 5.11 percent to HK$10.78 after revenue figures came in below projections.
Casino stocks fell for the third consecutive day, Galaxy Entertainment Group slipped 3.24 percent to HK$49.15 and Sands China fell 4.64 percent to HK$43.15. Hong Kong Television Network Ltd's closed up 29 percent at HK$4.77 on Thursday, and while the company has said it is not aware of any specific reason for this, it pointed out it had signed an online drama deal with internet giant Tencent in China. Chinese shares closed higher Thursday on hopes China will boost the domestic economy by launching more infrastructure projects, dealers said. The benchmark Shanghai Composite Index rose 0.27 percent, or 6.61 points, to 2,425.86 on turnover of 179.6 billion yuan ($29.2 billion). The Shenzhen Composite Index, which tracks stocks on China's second exchange, climbed 0.84 percent, or 11.41 points, to 1,364.53 on turnover of 175.4 billion yuan.
"The market regained momentum after midday following Chinese President Xi Jinping's latest comments to support infrastructure projects, lifting cheap bluechip shares in related sectors," Northeast Securities analyst Shen Zhengyang told AFP. State media also reported Wednesday that the National Development and Reform Commission - the top economic planner - had approved new railway projects with a total investment of 200 billion yuan. Shanghai Construction Group gained 7.95 percent to 5.84 yuan and China Railway Construction climbed 2.76 percent to 7.08 yuan.
Electricity producers also gained on hopes for sector reform. Shanghai Electric Power added 2.80 percent to 5.51 yuan, while Beijing Jingneng Power jumped 6.87 percent to 4.51 yuan. Newly-listed software company Dawning Information Industry surged by its 44 percent on its first trading day to 7.62 yuan.
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