Hong Kong Stocks end mixed

The Hong Kong stock market closed mixed after swinging between gains and losses on Monday, 09 December 2019, as strong U.S. jobs numbers offset by weaker than expected China's trade data and concerns over looming December 15 deadline for a trade deal between two major economies. At closing bell, the benchmark Hang Seng Index fell 0.01%, or 3.64 points, to 26,494.73. The Hang Seng China Enterprises Index rose 0.01%, or 0.87 point, to 10,408.05.

Data from the General Administration of Customs showed on Sunday that China's exports were down by 1.1% in the last month of the year, after a drop of 0.9% in October on slowing global demand. Imports were up 0.3% from the year earlier, after October's 6.4% decline. China's trade surplus for November fell to $US38.73 billion, compared with $US42.81 billion surplus recorded in October. The figure for November 2018 was $US35.5 billion.

Traders remained cautious amid uncertainties surrounding an initial trade deal between the United States and China. Both sides have less than 6 days to go before Washington is poised to impose even more tariffs on Chinese goods. Tariffs on another $156 billion in Chinese goods are set to go into effect on Dec. 15. The Hong Kong market, which lacks a clear driver amid a gloomy economic outlook on both sides of the border, could drop to an even lower level if the two countries fail to strike a deal.

Blue chips were mixed. HSBC (00005) rose 0.4% to HK$57.7. HKEX (00388) edged down 0.3% to HK$246.8. Tencent (00700) nudged up 0.2% to HK$336.2. China Mobile (00941) added 1.2% to HK$60. AIA (01299) softened 0.5% to HK$77.6.

Chinese property counters were higher as the most recent politburo meeting has not mentioned the property market. Analysts interpreted it as a moderate policy tone. China Overseas Land & Investment (00688) rose 2% to HK$27.75, becoming the top blue-chip winner. China Resources Land (01109) put on 1.7% to HK$35.9. R&F Properties (02777) surged 6% to HK$13.34. Sunac China (01918) bounced 4.3% to HK$42.8. Country Garden (02007) added 1.6% to HK$11.32. Longfor Group (00960) gained 2% to HK$32.6.

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