HSI Wrap Up (30/12/2015) - Falls 117 pts on Future Settlement Day ; Chinese Financials Soften
On the futures settlement day, Hang Seng Index receded after early gain. It opened up 94
pts this morning but was dragged down by Chinese financials afterwards. The benchmark index declined up to 131 pts after the midday and closed at 21,882, down 117 pts or 0.5%.
Hang Seng China Enterprises Index gave up 129 pts or 1.3% to 9,659. The market turnover amounted to $44.93 billion. Chinese financials dragged down the market. Hang Seng China H-Financials Index faded 1.5%. ICBC (01398.HK) and CCB (00939.HK) dropped nearly 1.1%. BANK OF CHINA (03988.HK) declined 1.4%. CHINA LIFE (02628.HK) and PING AN (02318.HK) also plunged 1.1% and 1.9%. Heavyweight HSBC HOLDINGS (00005.HK) edged down 0.2%. TENCENT (00700.HK) recorded a decrease of 0.07% to $150.7.
China lowered the national coal-fired on-grid tariff. CHINA RES POWER (00836.HK) tumbled 2.9%, being the worst performing blue chip. CHINA SHENHUA (01088.HK) also decreased 1.9%. Particular developer headed north. NEW WORLD DEV (00017.HK) climbed 0.7%. Henry Cheng said the share transfer by his father Cheng Yu-tung had nothing to do with his health issue. SINO LAND (00083.HK) picked up 0.7% too.
China Merchants Group and Sinotrans & CSC confirmed their merger. SINOTRANS (00598.HK) turned down 1.4% while SINOTRANS SHIP (00368.HK) leaped 2.7%. The Guobiao standards for China's charging pillars will be implemented from 2016. BYD COMPANY (01211.HK) advanced 2.5% amid the weak market.
Source from : http://www.aastocks.com/en/default.aspx
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