Hang Seng positive

Business | 18 Mar 2020 12:28 pm

Stocks gained slightly at the midday break in  Hong Kong after early losses today. The benchmark Hang Seng Index is up by a mere 0.08 percent, or 17.86 points at 23,281.59.

Alibaba Group is down by 1.09 percent at HK$181.20. HSBC Holdings (0005) gained by 2.78 percent at HK$46.20. Chinese oil major Cnooc (883) is down by 2.97 percent at HK$7.18. Sun Hung Kai Properties (0016) lost 0.59 percent at HK$100.50.

Shares of bank outperformed in the morning, with Hang Seng Bank (0011) rising 3.98 percent to HK$138.6, becoming the best performer among blue-chip stocks.

HSBC gained after announcing the appointment of Noel Quinn as chief executive.

China Construction Bank (0939) added 1.77 percent to HK$6.31 while Industrial and Commercial Bank of China (1398) advanced by 1.75 percent to HK$5.22.

However, shares of smartphone equipment suppliers continued to fall. Sunny Optical Technology (2382) shed 4.86 percent to HK$99.8, the worst performer among blue-chip, while AAC Technologies (2018) dropped by 2.6 percent to HK$39.35.

The Shanghai Stock Exchange Composite Index is higher by 1.26 percent at 2,814.70. The Shenzhen Stock Exchange Composite Index jumped by 2.64 percent at 1,749.69.



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