10 December 2018

Hang Seng pauses as investors await key China data

Hong Kong stocks took a breather Thursday as investors stepped back ahead of congressional testimony by United States Federal Reserve chief Janet Yellen and Friday’s release of China’s inflation data.

The benchmark Hang Seng Index gave up 120 points, or 0.54 percent, to close at 22,165. The Hang Seng China Enterprises Index, the main gauge for H shares, tumbled 1.24 percent to 9,872.

The Shanghai Composite Index slipped 0.55 percent to 2,098 points.

Blue chips ended the day mixed but snack food and beverage manufacturer Want Want China (00151.HK) shot up 6.5 percent after HSBC Securities and Bank of America Merill Lynch raised its target price. It was the best performer among the Hang Seng constituents.

Tingyi Cayman Islands Holding (00322.HK), commonly known as Master Kong, and Uni-President China (00220.HK) also ended the day higher, with the latter climbing 4.1 percent.

China Mengniu Dairy (02319.HK), picked to become a constituent stock after market close on Wednesday, added 3.8 percent after rising 3 percent in the previous session.

– Contact the writer at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe