Hong Kong: Stocks mixed in light trade

Headline indices of the Hong Kong share market were lower in light trade on Friday, 27 July 2018, as profit taking continued amid soft lead from Wall Street overnight and Mainland A-share market today. Around afternoon, the Hang Seng Index declined 11.65 points or 0.04% to 28,769.49. The Hang Seng China Enterprises Index dropped 1.84 points or 0.02% to 11,019.51.

Shares of defensive players like consumer goods gained. Want Want (00151) jumped 4.8% to HK$6.72 even going ex-dividend today. WH Group (00288) gained 3.4% to HK$6.37. Uni-President China (00220) edged up 0.9% to HK$9.36. Tingyi (Cayman Islands)(00322) added 1.6% to HK$17.78.

 

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 2.2% to HK$11.28. Sun Hung Kai Properties (00016) shot up 2.1% to HK$123.4. Henderson Land Development (00012) gained 1.3% to HK$43.5. Hang Lung Properties (00101) nudged up 0.6% to HK$16.38. Wharf REIC (01997) was up 0.8% to HK$57.05.

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