Hong Kong stocks regained some composure on Thursday after a brutal sell-off earlier in the week, with the benchmark Hang Seng Index ending the session slightly higher following five consecutive days of losses. The Hang Seng may have found a floor after posting its biggest one-day percentage loss since July, 2015 on Tuesday.
At close of trade, the Hang Seng index was up 128.07 points or 0.42 percent at 30,451.27. The Hang Seng China Enterprises index fell 0.43 percent to 12,380.38. The sub-index of the Hang Seng tracking energy shares dipped 1.9 percent while the IT sector rose 1.34 percent, the financial sector was 0.48 percent higher and property sector rose 0.19 percent.
The top gainer on Hang Seng was AAC Technologies Holdings Inc up 3.67 percent, while the biggest loser was CNOOC Ltd which was down 2.05 percent. As of the previous trading session, the Hang Seng index was up 1.35 percent this year, while China's H-share index was up 6.2 percent. The Hang Seng has declined 7.8 percent this month as at the prior close. The top gainers among H-shares were CRRC Corp Ltd up 4.05 percent, followed by Zhuzhou CRRC Times Electric Co Ltd gaining 3 percent and Great Wall Motor Co Ltd up by 2.08 percent.
The three biggest H-shares percentage decliners were Air China Ltd which was down 2.76 percent, China Telecom Corp Ltd which fell 2.2 percent and China Petroleum & Chemical Corp down by 2.0 percent. About 3.24 billion Hang Seng index shares were traded, roughly 109 percent of the market's 30-day moving average of 2.98 billion shares a day. The volume traded in the previous trading session was 4.76 billion.
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