25 March 2019

HSI directionless but handset and solar plays shine

Hong Kong stocks ended Monday without any clear direction, but investors piled into handset manufacturers and solar plays.

The Hang Seng Index rose 42 points or 0.19 percent to close at 22,888 points. The Hang Seng China Enterprises Index, the main gauge for H shares, finished 0.17 percent higher at 10,182, while the Shanghai Composite index fell 0.19 percent to 2,009 points.

China’s 4G concept heated up again with Lenovo (00992.HK) climbing 3.8 percent to make it the day’s best-performing blue chip. Coolpad Group (02369.HK) jumped 5.5 percent, TCL Communication Technology (02618.HK) was up 1.2 percent, and FIH Mobile (02038.HK) ended 2.6 percent higher.

The solar sector also made a shining. Hanergy Solar Group (00566.HK) continued its winning streak after announcing a new round of fundraising last Friday. The counter closed 13.2 percent higher, bringing the stock’s gains to nearly 52 percent in two trading sessions.

Comtec Solar Systems (00712.HK), GCL-Poly Energy (003800.HK) and China Singyes Solar Technologies (00750.HK) climbed in a range of 3.8 percent to 6.5 percent.

– Contact the writer at [email protected]




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