Hong Kong Market rise 1%

Headline indices of the Hong Kong share market inclined on Tuesday, 07 August 2018, on following the gains on Wall Street overnight and Mainland A-share market today. Around afternoon, the Hang Seng Index inclined 267.46 points or 0.96% to 28,087.02. The Hang Seng China Enterprises Index added 114.56 points or 1.07% to 10,816.52. The sub-index of the Hang Seng tracking Utilities shares rose 1.2%, the Commerce & Industry sector rose 1.1%, the financial sector was 0.6% up, and properties sector grew 2%.

The Mainland China equity market rebounded on Tuesday, 07 August 2018, as investors chased for bottom fishing across the board after the benchmark index fell to the lowest level in two and a half years on Monday, due to the United States and China exchanging threats of raising import tariffs over the weekend as part of their ongoing trade war.

NEWS FROM THE PRESS: BYD July sales volume down 0.7% mom -- BYD Company (01211) said its total sales volume for July amounted to 37,315 units, a decrease of 0.7% from the previous month. In particular, the sales volume of new energy vehicles amounted to 18,793 units, up 10% month-on-month. For the first seven months of 2018, the accumulated sales volume amounted to 261,812 units.

Powerlong July contracted sales up 154% -- Powerlong Real Estate (01238) said the contracted sales value (including contracted sales value by joint ventures and associated companies) and contracted sales area of the group in July amounted to RMB3,979 million, an increase of 154% from a year earlier, and 260,630 square metres. For the first seven months of 2018, the total contracted sales value (including contracted sales value by joint ventures and associated companies) and total contracted sales area of the group amounted to RMB20,320 million and 1.42 million square meters, an increase of 91.2% and 83.9% over the corresponding period last year.

OFFSHORE MARKET NEWS, US stock market closed slight higher on Monday. The Dow added 39.60 points or 0.16% to 25,502.18, while the Nasdaq gained 47.66 points or 0.61% to 7,859.68 and the S&P 500 rose 10.05 points or 0.35% to 2,850.40.

The major European markets ended mixed on Monday. The DAX of Germany dropped 0.14% and the CAC of France fell 0.03%, while the FTSE 100 of the U.K. gained 0.06%.

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