Hang Seng Index failed to extend yesterday's uptrend and slipped 107 pts to 23,296 at market open; Hang Seng China Enterprises Index also opened 27 pts lower to 10,399, below the 250MA (10,414).
HSI and HSCEI constituents were generally under pressure. CHINA MOBILE (00941.HK) opened down 0.5% to $90.5, falling for three days after posting quarterly results. LENOVO GROUP (00992.HK) receded 0.9% to $11.2. TENCENT (00700.HK), with Citigroup's bullish report, opened flat at $119.3.
SHIMAO PROPERTY (00813.HK) and MINGFA GROUP (00846.HK) together won the bid for Tung Chung hotel site for a price of $1.83 billion. Both stocks rallied over 1% to $15.9 and $2.07 respectively. In contrast, CHINA OVERSEAS (00688.HK) tumbled 1.6% to $21.25. HENDERSON LAND (00012.HK) and SHK PPT (00016.HK) also dipped over 0.5% to $53.1 and $113.2 respectively.
GALAXY ENT (00027.HK) failed to maintained the uptrend and dropped 1.4% to $49.1. Besides, as New York oil futures reached a new low, CNOOC (00883.HK) retreated 1.6% to $12.44. PETROCHINA (00857.HK) moved down 0.9% to $9.55.
CCB (00939.HK) edged down 0.2% to $5.6; ICBC (01398.HK) opened lower 0.6% to $4.96; HSBC HOLDINGS (00005.HK) slipped to $77.6.
As Mainland authorities jointly stepped up efforts in promoting the application of new energy vehicles for public transportation service, BYD COMPANY (01211.HK) rallied 4% to $53 and became the strongest HSCEI constituent. CHINA SHIP DEV (01138.HK) jumped 2% to $4.95.
AAStocks Financial News
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