| Roundup: HK shares fall on profit-taking, regional declines |
| 2008-05-21 06:08 |
| From:Xinhua Article type:Reproduced |
Hong Kong's benchmark Hang Seng Index dropped 2.23 percent Tuesday on profit-taking in energy companies and declines on Asian bourses, following a 679-point gain in the previous five sessions. The Hang Seng Index moved down 572.77 points, or 2.23 percent to close at 25,169.46 on Tuesday after trading between 25,042.09 and 25,702.87. Analysts said they expect the benchmark index to trade around its current level in the near term. Turnover was 82. 80 billion HK dollars (10.62 billion U.S. dollars), up from Monday's 70.49 billion HK dollars. Energy companies led Tuesday's declines. Shenhua Energy fell 1.7 percent to 35.75 HK dollars after rising 6.9 percent Monday. CNOOC fell 1.4 percent to 15.02 HK dollars after gaining nearly 10 percent in the past six sessions. Sinopec slid 4.3 percent to 7.26 HK dollars as the refiner's profit will likely remain hard hit by surging international oil prices. PetroChina, which also operates an oil refining business, slid 3 percent to 11.12 HK dollars. Chinese airlines bucked the trend. Air China rose 0.7 percent to 5.60 HK dollars and China Eastern Airlines was up 1.7 percent at 3.53 HK dollars. Asia Cement jumped 38 percent to 6.83 HK dollars on its Hong Kong debut, boosted by strong demand for cement to be used in reconstruction after last week's earthquake in southeast China's Sichuan province. Property stocks declined across the board. Cheung Kong, Henderson Land and SHK PPT slid 1.99 percent to 3.07 percent. New World, Sino Land and Hang Lung PPT shed 1.9 percent to 6.23 percent. MTR Corporation was down 0.93 percent, lease stock Wharf Holdings down 1.02 percent. On Chinese telecom stocks front, China Mobile was down 2.9 percent, China Unicom down 1.55 percent after rise, Netcom flat, and China Telecom down 2.89 percent. Chinese mainland's insurers went lower alongside Chinese mainland's stock markets. China Life that recorded a 43-percent year-on-year increase in premium income for the first 4 months this year was down 2.26 percent, Ping An that released a 29.41 percent growth in the total premium income for the first 4 months down 1.77 percent, while PICC P&C down 2.44 percent and China Insurance sharply down 7.79 percent. |
| (Source: English Site of Department of Information Technology) |
 | Roundup: Hong Kong stocks turn around, following mainland cues 2008-04-23 05:53 |
| Roundup: Hong Kong stocks close sharply lower 2008-01-16 05:29 |
| Roundup: HK stocks dive following Wall Street fall 2008-01-08 05:40 |
| Roundup: HK stocks gain 0.77% on much thinner turnover 2007-12-05 04:57 |
| Roundup: HK stocks close at record high 2007-10-30 04:34 |
| Roundup: HK stocks higher, breaking records 2007-09-06 04:55 |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
