Hong Kong Market ends tad higher

Headline indices of the Hong Kong share market ended edge higher after fluctuating between gains and losses in light trade on Friday, 27 July 2018, as risk sentiments largely muted amid soft lead from Wall Street overnight and fall in Mainland A-share market today amid worries over a China economic slowdown. At the close, the Hang Seng Index rose 23.14 points or 0.08% to 28,804.28. The Hang Seng China Enterprises Index added 26.07 points or 0.24% to 11,047.42.

The sub-index of the Hang Seng tracking energy shares rose 1% while the IT sector rose 0.15%, the financial sector was 0.05% higher and property sector rose 0.45%.

 

Shares of defensive players like consumer goods gained. Want Want (00151) jumped 5.1% to HK$6.74. WH Group (00288) gained 2.6% to HK$6.32. Uni-President China (00220) edged up 0.9% to HK$9.36. Tingyi (Cayman Islands)(00322) added 2.4% to HK$17.92. China Mengniu Dairy (02319) rebounded 0.8% to HK$24.95 after yesterday's slide.

Shares of property developers rebounded after HSBC Research said valuations for property counters approached their historical lows, noting it's time for accumulating. New World Development (00017) rose 1.5% to HK$11.2. Sun Hung Kai Properties (00016) shot up 1.7% to HK$122.94. Henderson Land Development (00012) gained 0.4% to HK$43.1. Hang Lung Properties (00101) put on 1% to HK$16.44. Wharf REIC (01997) was up 0.7% to HK$57.

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