Hong Kong Stocks end lower

Hong Kong stock market finished session at one-year low on Wednesday, 06 October 2021, after a survey showed the country's private sector expanded at a slower pace in September, with property-related stocks being notable losers amid lingering Evergrande concerns.

At closing bell, the benchmark Hang Seng Index fell 0.57%, or 137.66 points, to 23,966.49. The Hang Seng China Enterprises Index dropped 1.21%, or 102.83 points, to 8,412.72.

Shares of property and related sectors were lower, as China Evergrande's debt woes started infecting the local property players while Fantasia Holdings defaulted on a dollar bond leading to fears of capital issue. Country Garden's property management unit fell 4% while Wharf REIC retreated 1.5%.

 

Shares of energy firms gained as crude traded near US$79 per barrel after reaching a three-year high earlier this week amid an energy crisis. PetroChina advanced 4.3% to HK$4.14, while Sinopec and CNOOC gained by at least 2.3%.

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