Hong Kong stocks swung
between gains and losses on low trading volume, after the city��s
benchmark index capped two straight weekly increases, as investors
weighed whether China��s government will add to stimulus.
Winsway Coking Coal
Holdings Ltd. led declines for energy producers, which posted the
biggest drop among the 11 industry groups on the Hang Seng Composite
Index. PetroChina Co. dropped 1.1 percent, dragging on the Hang Seng
Index. Minth Group Ltd., which makes car parts, jumped 5.7 percent after
a report that Chinese President Xi Jinping urged the development of
new-energy vehicles.
The Hang Seng Index
slipped 0.1 percent to 22,950.39 at the midday trading break in Hong
Kong, after gaining as much as 0.5 percent. Volume on the measure was 30
percent less than its 30-day intraday average. The Hang Seng China
Enterprises Index dropped 0.3 percent to 10,091.08. The gauge of
mainland companies traded in the city climbed 1.7 percent last week,
extending its rebound from a May 7 low to 4.8 percent.
The Hang Seng Index is
up 3.7 percent this month, the second-best performer among major
developed markets tracked by Bloomberg. The Standard & Poor��s 500
Index climbed to a record at the end of last week, closing above 1,900
for the first time, as a report showed purchases of new homes climbed in
April. U.S. and U.K. equity markets are closed for holidays today.
Copy Source: Bloomberg
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