HK stocks in negative territory

Business | 29 Oct 2018 12:03 pm

Hong Kong blue chips remained in negative territory today. The Hang Seng Index was down by 0.07 percent, or 16.58 points at 24,701.05 as of the mid day break.

Stocks opened higher, edging up by 0.52 percent, or 128.76 points, to 24,846.39.

Auto stocks plunged.

Great Wall Motors (2333) shed 7.42 percent to HK$4.12 after releasing quarterly results.

China Yongda Auto (3669) slumped by 15.3 percent to HK$4.53 as its first three-quarter net profit slipped.

The airlines sector climbed.

China Eastern Airlines (0670) gained by 5.61 percent, although third-quarter net profit tumbled.

Coal stocks overall fell.

Yanzhou Coal Mining (1171) gave up 13.55 percent to HK$7.60.

But the benchmark Shanghai Composite Index edged down 0.20 percent, or 5.26 points, to 2,593.59, while the Shenzhen Composite Index, lost 0.60 percent, or 7.70 points, to 1,282.92.

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