Hong Kong stocks ended higher on Friday, and posted their first weekly gain in a month, as fresh China data suggest the Sino-US trade war has yet to make a dent on the Chinese economy. The Hang Seng index ended up 0.2 percent at 28,525.44, while the China Enterprises Index closed 0.1 percent lower at 10,746.45 points. China's trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
Analysts have raised their 2018 growth forecasts for China's economy, a surprising result given an escalating trade war with the United States, as they see a deleveraging drive and pollution crackdown having less of an impact than initially expected. The sub-index of the Hang Seng tracking energy shares ended down 0.2 percent, while the IT sector ended 0.55 percent firmer, the financial sector ended 0.01 percent lower and property sector closed up 0.12 percent.
The top gainer on Hang Seng was China Mengniu Dairy Co Ltd up 5.12 percent, while the biggest loser was China Shenhua Energy Co Ltd which was down 2.19 percent.
As of previous session, the Hang Seng index slipped 4.81 percent this year, while China's H-share index fell 8.2 percent. As of previous close, Hang Seng lost 1.64 percent this month.
The top gainers among H-shares were Hengan International Group Company Ltd up 3.63 percent, followed by Guangdong Investment Ltd gaining 2.92 percent and Sinopharm Group Co Ltd up by 2.48 percent.
The three biggest H-shares percentage decliners were ZhongAn Online P & C Insurance Co Ltd which was down 3.93 percent, China Shenhua Energy Co Ltd which fell 2.2 percent and Air China Ltd down by 1.8 percent.
About 1.49 billion Hang Seng index shares were traded, roughly 73.5 percent of the market's 30-day moving average of 2.03 billion shares a day. The volume traded in the previous trading session was 1.91 billion.
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