Stocks in Hong Kong fell on Wednesday along with their regional counterparts, ending near one-year lows on bearish Chinese investor sentiment and broader concerns about emerging markets sparked by Turkey's financial crisis. At close of trade, the Hang Seng index was down 429.34 points, or 1.55 percent, at 27,323.59. The Hang Seng China Enterprises index fell 1.95 percent to 10,535.14.
The sub-index of the Hang Seng tracking energy shares dipped 1.9 percent while the IT sector dipped 3.75 percent, the financial sector was 1.48 percent lower and property sector dipped 1.54 percent. The top gainer on Hang Seng was WH Group Ltd up 8.24 percent, while the biggest loser was Geely Automobile Holdings Ltd which was down 5.25 percent.
As of the previous trading session, the Hang Seng index was down 7.24 percent this year, while China's H-share index was down 8.2 percent. As of the previous close, the Hang Seng has declined 2.9 percent this month. The top gainers among H-shares were China Mobile Ltd up 0.56 percent, followed by China Telecom Corp Ltd gaining 0.28 percent. The three biggest H-shares percentage decliners were China Gas Holdings Ltd which was down 6.70 percent, Byd Co Ltd which fell 5.5 percent and Great Wall Motor Co Ltd down by 5.3 percent.
About 1.97 billion Hang Seng index shares were traded, roughly 115.3 percent of the market's 30-day moving average of 1.71 billion shares a day. The volume traded in the previous trading session was 1.54 billion. The price-to-earnings ratio of the Hang Seng index was 10.64 as of the last full trading day while the dividend yield was 3.4 percent. So far this week, the market capitalisation of the Hang Seng index has fallen by 2.53 percent to HK$17.96 trillion. The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 1.55 percent on the day at 5,171.96.
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