SHCI , SZCI Dive Over 3% at Closed HSI Dives 296pts; Developers , Financials Wilt

Shanghai and Shenzhen stock markets recorded a loss of 2.3%-3.5% today. Shanghai Composite Index hit the low at 2,883 and closed the day trading at 2,900, down 3.5%. Shenzhen Component Index hit the high/ low at 10,363/9,940 to close at 9,997, down nearly 3.4%. CSI 300 Index closed at 3,118, down 3%. ChiNext Index retreated nearly 2.9% to 2,112. The turnover of Shanghai and Shenzhen bourses slightly decreased to RMB206.6 billion and RMB331.7 billion. In the past week, Shanghai Composite Index, Shenzhen Component Index, ChiNext and CSI 300 Index have tumbled nearly 9%, 8.2%, 6% and 7.2%.

HKD once fell to the low level of 7.79 today and the market is concerned about the capital outflow in Hong Kong. Hang Seng Index opened down 35 pts and the decline widened afterwards. It hit the low at 19,500 by falling 317 pts and last printed at 19,520, down 296 pts or 1.5%. Hang Seng China Enterprises Index declined 223 pts or 2.6% to 8,236, hitting the new low for over four years. The market turnover amounted to $73.66 billion. Hong Kong banks softened. BOC HONG KONG (02388.HK) and BANK OF E ASIA (00023.HK) faded 2.3% and 2.9%. HANG SENG BANK (00011.HK) slid 1.2%. HSBC HOLDINGS (00005.HK) and AIA (01299.HK) dropped 0.4% and 0.6%. CHINA MOBILE (00941.HK) decreased 1% to $80.45. HKEX (00388.HK) lost 2.4%. TENCENT (00700.HK) held steady and only edged down 0.07% to $137. Local developers recorded a widened decline after the midday. HENDERSON LAND (00012.HK) , SINO LAND (00083.HK) and CK PROPERTY (01113.HK) collapsed 2.7%, 2.7% and 2.9%. NEW WORLD DEV (00017.HK) and SHK PPT (00016.HK) tumbled more than 2%. Macau gaming stocks weakened after the midday too. SANDS CHINA LTD (01928.HK) and GALAXY ENT (00027.HK) plunged 3.1% and 2%. Most of the blue chips turned down and the Chinese financials headed south. CITIC BANK (00998.HK) declined 3.5%. CCB (00939.HK) and ICBC (01398.HK) slid 1.9% and 2.4%. CHINA LIFE (02628.HK) plummeted 3%. CPIC (02601.HK) collapsed 4.9%. On the other hand, CC SECURITIES (01375.HK) leaped 3.7% and POU SHENG INT'L (03813.HK) rocketed 22%.

Source from AA Stocks

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