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Hong Kong Market ends lower

Capital Market 

The Hong Kong share market finished session lower on Thursday, 22 August 2019, as risk aversion selloff triggered after several blue-chip stocks reported disappointing first-half results and a bleak outlook for corporate earnings citing the months-long protests as a negative factor. At closing bell, the Hang Seng Index declined 0.84%, or 221.32 points, to 26,048.72. The Hang Seng China Enterprises Index shed 0.53%, or 54.39 points, to 10,122.90.

Real estate stocks were lower, as investors fled with worries mounting about the protests' impact on businesses including shopping malls. Henderson Land Development plunged by 3.2% to HK$37.55, after it posted a 68% decline in first-half revenue from real estate sales. Wharf Real Estate Investment fell 1.8% to HK$44.80, and Sun Hung Kai Properties also dropped 1.8% to HK$114.3. New World Development (00017) lost 1.6% to HK$10.06.

Hang Lung Properties (00101) shed 1.1% to HK$17.8. Henderson Land (00012) dipped 3.2% to HK$37.55. Sino Land (00083) fell 2.5% to HK$11.6. Kerry Properties (00683) declined by 2.2% to HK$28.5. CK Asset (01113) slid 2.1% to HK$54.25.

Piped-gas provider Hong Kong and China Gas led the decline in utilities, plunging 3.6% to HK$15.62, following its disappointing first-half results. CLP Holdings (00002) retreated 1.2% to HK$81.5. Power Assets (00006) declined by 0.6% to HK$54.05.

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

First Published: Thu, August 22 2019. 18:00 IST
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