Hong Kong shares rebounded on Thursday after two days of sharp falls, with news regarding a probe into CEFC China Energy chairman had limited impact on market sentiment. CEFC Chairman Ye Jianming has been investigated for suspected economic crimes, a person with direct knowledge of the matter said on Thursday. CEFC Hong Kong Financial Investment, which is related to CEFC, plunged nearly 30 percent.
The probe had limited impact on the broader market. The Hang Seng index rose 0.7 percent to 31,044.25, while the China Enterprises Index gained 0.4 percent to 12,428.88. The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent while the IT sector rose 2.83 percent, the financial sector was 0.56 percent higher and property sector rose 1.51 percent.
The top gainer on Hang Seng was Sino Land Co Ltd up 4.19 percent, while the biggest loser was Want Want China Holdings Ltd which was down 2.27 percent. As of the previous trading session, the Hang Seng index was up 3.09 percent this year, while China's H-share index was up 5.7 percent. The Hang Seng has declined 6.21 percent this month, until Wednesday.
The top gainers among H-shares were PICC Property and Casualty Co Ltd up 2.45 percent, followed by Ping An Insurance Group Co of China Ltd gaining 1.62 percent and Postal Savings Bank of China Co Ltd up by 1.44 percent.
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