11 December 2018

Field day as mobile gaming, lottery plays fly

Hong Kong stocks got a lift from surging mobile handset stocks and gaming and lottery counters, turning Wednesday into a field day for some investors.   

The benchmark Hang Seng Index closed 0.4 percent higher at 22,902. However, the Hang Seng China Enterprises Index, the main gauge for H shares, eased 0.52 percent to 10,201.

The Shanghai Composite index fell 0.17 percent to 2,023 points.

Lenovo Group (00992.HK) jumped 5.5 percent, the day’s best performer among blue chips. Coolpad (02369.HK) surged 14.2 percent while SIM Technology Group (02000.HK), TCL Communication Technology (02619.HK) and ZTE Corp. (00763.HK) rose in a range of 1.1 percent to 5.1 percent.

The mobile gaming sector resumed its winning ways after Tuesday’s sell-off. Tencent (00700.HK) ended 3.1 percent higher, a record high. Boyaa Interactive International (00434.HK) climbed 3.8 percent after blowing 13.5 percent in the previous session. Forgame Holdings (00484.HK) added 5.3 percent.

Lottery system developers REXLot Holding (00555.HK) soared above 20 percent. China LotSynergy (01371.HK) picked up 7.6 percent and China Netcom Technology (08071.HK) gained 8.6 percent.

A surprise earnings forecast drove the cement sector. Anhui Conch Cement (00914.HK) rose 6 percent after it said it expects last year’s profit to have grown 50 percent. The news lifted other plays, notably China Resources Cement (01313.HK) which rose 6.1 percent.

– Contact the writer at [email protected]



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