You are here: Home » News-CM » International » Market Report
Business Standard

Hong Kong Hang Seng extends gain

Capital Market 

Headline indices of the Hong Kong share market closed higher in quiet trade on Friday, 13 July 2018, as investors continued value buying on tracking gains on Wall Street overnight. Lack of an escalation in U. S.-trade tensions also boosted investor sentiment. At the close of trade, the added 44.61 points or 0.16% to 28,525.44. The Enterprises Index fell 6.41 points or 0.06% to 10,746.45.

Turnover decreased to HK$84.5 billion from HK$91.2 billion on Thursday.

Consumer staples extended yesterday's rally. Mengniu Dairy (02319) surged 5.1% to HK$26.7 becoming the top blue-chip winner. (01044) jumped 3.6% to HK$75.65. (00288) rose 3.1% to HK$6.32. (00151) added 1.4% to HK$7.11.

Pharmaceutical counters were mixed, with Weigao (01066) soaring 12.6% to HK$6.34 as the company said it was allowed to participate the H-share full circulation program. (00512) shot up 10.7% to HK$5.89 as it issued positive profit alert. (02196) jumped 4% to HK$41.95. (01099) gained 2.5% to HK$33.

OFFSHORE MARKET: US rebounded to close higher on Thursday, partly due to optimism about the upcoming earnings season. Easing trade concerns also contributed to the rally. The tech-heavy Nasdaq soared 107.30 points or 1.4% to a new record closing high of 7,823.92, the Dow jumped 224.74 points or 0.9% to 24,924.89, and the surged up 24.27 points or 0.9% to 2,798.29.

The major European markets also moved back to the upside on Thursday. The French Index jumped by 1%, the U. K.'s Index advanced by 0.8% and the German DAX Index climbed by 0.6%.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 14:40 IST