Hold those rising stocks until Trump sworn inBusiness | 12 Jan 2017
The Hang Seng Index gained for the fifth consecutive day and rose another 190 points to close at a one-month high at 22,935, though Shanghai A shares have fallen in the past two days.
Local property shares led the gain. Cheung Kong Property (1113) has risen for eight straight days with a cumulative 10.3 percent rise. The mainland property sector has also firmed. China Overseas (688) rose 1.8 percent after Goldman Sachs raised its target price. Resources and metal producers such as steel, copper and aluminum mostly continued their rallies. Tencent (700) recovered to above HK$200 for the first time in two months. I hope readers had bought the share below HK$180. But China Unicom (762) faced a trial for APP traffic hijacking on its users. The share price dropped 1.8 percent yesterday and its A share fell 8 percent.
Meanwhile, we should keep our Hong Kong stock holdings at least until the inauguration of the new US President on January 20.
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