Hong Kong shares rose on Monday after China's upbeat retail sales and factory output numbers pointed to some stabilisation in the world's second-largest economy, and as China's second-quarter economic growth met expectations. At the close of trade, the Hang Seng index was up 83.26 points, or 0.29%, at 28,554.88. The Hang Seng China Enterprises index rose 0.47% to 10,838.99.
The sub-index of the Hang Seng tracking energy shares rose 0.1%, while the IT sector gained 1.37%, the financial sector ended 0.01% lower and the property sector dipped 0.28%. The top gainer in the Hang Seng was CSPC Pharmaceutical Group Ltd, which gained 7%, while the biggest loser was CK Asset Holdings Ltd, which fell 1.31%. The top gainers among H-shares were CSPC Pharmaceutical Group Ltd, up 7%, followed by ANTA Sports Products Ltd, gaining 2.92%, and Anhui Conch Cement Co Ltd, up by 2.53%.
The three biggest H-shares percentage decliners were China National Building Material Co Ltd, which was down 1.91%, Bank of Communications Co Ltd, which fell 0.84%, and Longfor Group Holdings Ltd, down by 0.80%. About 1.36 billion Hang Seng index shares were traded, roughly 89% of the market's 30-day moving average of 1.53 billion shares a day. The volume traded in the previous trading session was 1.24 billion.
China's economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure.
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