The Hong Kong stock market finished mixed on Monday, 20 July 2020, as investors fret over a spike in coronavirus cases in the city after Hong Kong reported a record 108 new coronavirus cases on Sunday, prompting new social distancing orders from the government. However, market losses capped as Beijing signalled support for its market. At closing bell, the benchmark Hang Seng Index fell 0.12%, or 31.18 points, to 25,057.99. The Hang Seng China Enterprises Index added 0.9%, or 91.75 points, to 10,295.32.
Shares of property developers and casino operators paced the decline after Hong Kong reported a record 108 new coronavirus cases on Sunday that has forced authorities to step up containment measures. Wharf Real Estate Investment declined 5.9% to HK$30.50 and Galaxy Entertainment Group sank 3.9% to HK$52.65.
Car Inc shares slumped 4.9% to HK$2.93 before trading was suspended starting 1pm. SAIC Motor scrapped a plan to buy 613 million shares of the company through its Hong Kong unit, the Chinese carmaker said, citing disagreement on acquisition terms during an unspecified period.
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