Hong Kong Stocks end flat
Capital Market The Hong Kong share market closed softer on Thursday, 05 September 2019, a day after strong rally, as concern about protests resurfaces. At closing bell, the Hang Seng Index declined 0.03%, or 7.70 points, to 26,515.53. The blue-chip index opened down 10 points to 26,512. It rose 174 points at one stage in the morning, hitting the day high of 26,697, on reports that China and the US have agreed to meet in October for trade negotiations. The index turned south and saw a day low of 26,283 (down 240 points) because HKEX suspended trading (from 2 p.m.) in its derivatives market for the afternoon and after-hours sessions due to connectivity issues on its automatic trading system. The Hang Seng China Enterprises Index was up 0.93%, or 95.95 points, to 10,384.14.
Blue chips were mostly weaker. HSBC (00005) inched down 0.7% to HK$57.5. HKEX (00388) fell 0.3% to HK$247.2. Tencent (00700) nudged up 0.1% to HK$341.4. China Mobile (00941) weakened by 0.5% to HK$66.05. AIA (01299) shed 1.1% to HK$78.55.
Offshore Renminbi (CNH) soared 240 pips at one point to 7.1219 on improving US-China trade relationship. Aviation counters rose on strong Renminbi. China Eastern Airlines (00670) jumped 3.9% to HK$3.97. China Southern Airlines (01055) shot up 2.9% to HK$4.69. Air China (00753) gained 3.1% to HK$7.09.
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