21 November 2018

HSI quiet while Tencent up nearly 15 percent in February

Hong Kong’s Hang Seng Index (HSI) didn’t move much on Friday after soaring nearly 400 points the day before.

The benchmark index rose 8 points or 0.04 percent to close at 22,836 points. However, the Hang Seng China Enterprises Index, the main gauge for H shares, dropped 0.67 percent to 9,891. The Shanghai Composite Index added 0.44 percent to finish at 2,056 points.

The HSI climbed 268 points or 1.2 percent for the week.

Blue chips ended mixed. Tencent (00700.HK) soared to a fresh record high in the morning and ended 1 percent higher for the day. The tech behemoth has added nearly 15 percent for the whole month.

Cheung Kong Holdings (00001.HK) climbed 0.9 percent, while Hutchison Whampoa (00013.HK) rose 1 percent. The two Li Ka-shing companies announced their annual results Friday, beating estimates.

CITIC Pacific (00267.HK), on the other hand, tumbled 3.6 percent to become the day’s worst-performing blue chip.

Automaker BYD (01211.HK) shot up over 8 percent after saying its 2013 profit is expected to surge five times, compared with the previous year. The counter surged 38 percent for the whole of February.

Meanwhile, Boyaa Interactive International (00434.HK) said its net profit dropped 5 percent in the past year. The counter tumbled as much as 18.6 percent before closing 11.8 percent lower.

– Contact the writer at [email protected]




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