HK shares flat following 4 days of gains
HK shares flat following 4 days of gains
20:25, October 09, 2009 
Email | Print | Subscribe | Comments | Forum 
Hong Kong shares continued waving repetitiously in small range and ended flat on Friday as consolidation set in following four days of gains this week.
The benchmark Hang Seng Index ended up 7 points, or 0.03 percent, at 21,499.44 after trading between 21,421.77 and 21,572. 70. The index rose 5.5 percent this week.
Traders said the local market's upward momentum may lead the Hang Seng Index to test 22,000 in the short term, though resistance is also likely to kick in at that level.
The properties sub-index went up 0.19 percent, and the commerce and industry sub-index up 0.2 percent while the utilities lost 0. 18 percent and the finance slid 0.09 percent.
Debutante casino operator Wynn Macau closed at 10.78 HK dollars, up 6.94 percent from its issue price on debut, and off an intraday high of 11.40 HK dollars.
Cathay Pacific jumped 3.5 percent to 13.10 HK dollars after Morgan Stanley upgraded the company to overweight from equal- weight, and raised its target price to 14.40 HK dollars from 11.80HK dollars on expectations Hong Kong's flagship carrier will benefit from the global economic recovery next year as well as a recovery in the high-end travel segment.
Heavyweight HSBC Holdings was down 0.34 percent at 88.75 HK dollars as CLSA predicted the bank might need to further raise 14.6 billion U.S. dollars.
Hong Kong Exchanges, the sole exchange operator in Hong Kong, fell 1.5 percent to 139.50 HK dollars.
Chinese telecom stock China Mobile was down 1.15 percent to 77.25 HK dollars. China Unicom down 0.54 percent at 11.16 HK dollars. China Telecom slid 0.26 per cent.
Property stocks put in mixed shows. Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, was down 0.61 percent at 97.9 HK dollars. Henderson Land moved up 1.97 percent. SHK PPT rose 1.12 percent. New World slid 0.35 percent on a 78-per cent annual profit decrease.
On the three insurers and six banks side, China Life was unchanged, while Ping An was up 1.88 percent, and PICC P&C down 0.52 percent. CCB rose 0.46 percent, while Bank of China down 0.46 percent, ICBC up 0.66 percent, Bankcomm down 0.1 percent.
CNOOC was up 2.18 percent to 11.26 HK dollars. PetroChina unchanged, Sinopec Corp went up 0.15 percent.
Source:Xinhua
The benchmark Hang Seng Index ended up 7 points, or 0.03 percent, at 21,499.44 after trading between 21,421.77 and 21,572. 70. The index rose 5.5 percent this week.
Traders said the local market's upward momentum may lead the Hang Seng Index to test 22,000 in the short term, though resistance is also likely to kick in at that level.
The properties sub-index went up 0.19 percent, and the commerce and industry sub-index up 0.2 percent while the utilities lost 0. 18 percent and the finance slid 0.09 percent.
Debutante casino operator Wynn Macau closed at 10.78 HK dollars, up 6.94 percent from its issue price on debut, and off an intraday high of 11.40 HK dollars.
Cathay Pacific jumped 3.5 percent to 13.10 HK dollars after Morgan Stanley upgraded the company to overweight from equal- weight, and raised its target price to 14.40 HK dollars from 11.80HK dollars on expectations Hong Kong's flagship carrier will benefit from the global economic recovery next year as well as a recovery in the high-end travel segment.
Heavyweight HSBC Holdings was down 0.34 percent at 88.75 HK dollars as CLSA predicted the bank might need to further raise 14.6 billion U.S. dollars.
Hong Kong Exchanges, the sole exchange operator in Hong Kong, fell 1.5 percent to 139.50 HK dollars.
Chinese telecom stock China Mobile was down 1.15 percent to 77.25 HK dollars. China Unicom down 0.54 percent at 11.16 HK dollars. China Telecom slid 0.26 per cent.
Property stocks put in mixed shows. Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, was down 0.61 percent at 97.9 HK dollars. Henderson Land moved up 1.97 percent. SHK PPT rose 1.12 percent. New World slid 0.35 percent on a 78-per cent annual profit decrease.
On the three insurers and six banks side, China Life was unchanged, while Ping An was up 1.88 percent, and PICC P&C down 0.52 percent. CCB rose 0.46 percent, while Bank of China down 0.46 percent, ICBC up 0.66 percent, Bankcomm down 0.1 percent.
CNOOC was up 2.18 percent to 11.26 HK dollars. PetroChina unchanged, Sinopec Corp went up 0.15 percent.
Source:Xinhua
Related Reading
Special Coverage
60th anniversary of founding of PRC
Major headlines
Editor's Pick
Most Popular
Hot Forum Dicussion
http://english.people.com.cn/90001/90778/90859/6778820.pdf