Hong Kong Stocks end mixed

Hong Kong stock market finished session mixed on Tuesday, 05 October 2021, as risk sentiments dented on following overnight losses on Wall Street, fretted about rising Treasury yields, the debt ceiling tussle in the United States. Also, weighing sentiments was debt crises involving Chinese property developers, with Fantasia joining Evergrande in missing a coupon payment.

At closing bell, the benchmark Hang Seng Index rose 0.28%, or 67.78 points, to 24,104.15. The Hang Seng China Enterprises Index dropped 0.07%, or 5.64 points, to 8,515.55.

Shares of energy firms gained on the back of stronger crude oil prices. PetroChina jumped 7.6%, CNOOC surged 2.5% and Sinopec Corp gained 2.4%.

 

Shares of coal companies also advanced, wth Yanzhou Coal, China Shenhua and China Coal rising between 2.4% and 5.4%

Shares of property and related sectors were under pressure following news of Fantasia's unit failing to repay loan. Chinese property manager Country Garden Services Holdings said on Monday a Fantasia Holdings unit failed to repay a 700 million yuan ($108 million) loan due on Oct. 4. Country Garden Holdings to drop 2.8%, while smaller rival Sunac China plunged 10.1%.

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