Hong Kong Stocks trades lower

Hong Kong share market were lower on Wednesday, 14 November 2018, on tracking weak lead from Wall Street overnight and mixed bag of Chinese economic data and ongoing U.S.-China trade war woes. Data released Wednesday showed China's industrial output and fixed-asset investment rose more than expected in the first 10 months of 2018, but retail sales were weaker than anticipated. In afternoon trades, the Hang Seng Index fell 139.28 points or 0.54% to 25,653.59. The Hang Seng China Enterprises Index dropped 87.77 points or 0.84% to 10,390.94.

Market heavyweights were mixed. Tencent (00700) edged up 0.4% to HK$275.6. China Mobile (00941) rose 0.9% to HK$75.75. AIA (01299) shed 1.2% to HK$63.95. HSBC (00005) jumped 1.7% to HK$65.85 after the UK government has reached a draft deal with the European Union regarding Brexit. Want Want (00151) edged up 0.2% to HK$5.69 after Macquarie and JP Morgan raised their target prices for the snack producer.

 

Shares of energy companies were lower as New York crude oil prices slumped more than 7%. CNOOC (00993) dipped 4.7% to HK$12.7. PetroChina (00857) slipped 3.2% to HK$5.69. Sinopec (00386) softened 3.3% to HK$6.44.

Shares of Aviation counters were higher on lower fuel costs due to falling oil prices. China Eastern Airlines (00670) gained 3.3% to HK$5.04. China Southern Airlines (01055) surged 5.4% to HK$5.25. Air China (00753) jumped 4.2% to HK$7.69. Cathay Pacific (00293) climbed 3.9% to HK$11.08.

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