HSI finishes flat amid robust trade

Finance | Aiden He 28 Sep 2021

The Hong Kong stock market closed almost flat at 24,208.78 points yesterday but recorded a turnover of nearly HK$150 billion.

The Hang Seng Index opened lower and then bounced back as much as 377 points to a daily high of 24,509 points, before falling 250 points in the last hour of morning trading. The index further slid in the afternoon and closed at 0.07 percent, or 17 points higher.

The Hang Seng Tech Index inched down about 1 percent to 6,103.89. Xiaomi (1810) and Alibaba Group (9988) fell nearly 2 percent, while Tencent (0700) and Meituan (3690) rose more than 1 percent.

CNOOC (0883) fared the best among blue chips, up about 5 percent on the news of returning to list in the A-share market. But mainland property firms and Macau gaming stocks were under pressure, led by a 4.6 percent drop in the biggest blue-chip loser, Geely Automobile (0175). Shares of the embattled China Evergrande Group (3333) rose 8 percent to HK$2.55 but its electric vehicle unit (0708) plunged nearly 26 percent in the early stages before closing 9.42 percent lower at HK$2.02 as it terminated the plan of listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange.

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