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06/10/2017 16:12

HSI ends up 78 points at 28,458, turnover at HK$103bn

[ET Net News Agency, 6 October 2017] HK stocks closed higher on Friday following the
record closing high of US equity market. The Hang Seng Index opened up 247 points to
28,626, which marked the intra-day high, thanks to the 3% rally of AIA (01299). The index
then gradually pared its gains and briefly fell 2 points to an intra-day high of 28,377 in
afternoon trade, dragged down by Macau gaming counters.
The Hang Seng Index ended up 78 points or 0.3% to 28,458. The H-share index rose 61
points or 0.5% to 11,459. Turnover soared to HK$102.97 billion from HK$86 billion on
Wednesday. The stock market closed on Thursday for mid-autumn festival holiday.
Automakers showed muscles, with Geely Automobile (00175) jumping 5.4% to HK$27.35. It
became the best blue-chip winner. BYD (01211), Brilliance China Automotive (01114),
Dongfeng Motor (00489) and Great Wall Motor (02333) put on 2%, 2.3%, 1.3% and 0.5%
respectively.
Galaxy Entertainment (00027) and Sands China (01928) slid 1.9% and 2.7% to HK$55.4 and
HK$39.6, becoming the worst performing blue chips in the morning, due to the 4-day (Golden
week holidays) tourist visitation growth declined 2% year-on-year in Macau.
AIA (01299) registered a number of block trades. It ended up 1.6% to HK$59.6. Other
Chinese insurers were also higher. Ping An (02318) rose 1% to HK$63.8. China Life (02628)
edged up 0.8% to HK$24.1. Mainland lenders were firmer after Deutsche Bank reiterated its
"buy" calls on the Big Four. BOC (03988), ABC (01288), and ICBC (01398) gained 0.5%, 0.6%
and 0.2% to HK$4.06, HK$3.66 and HK$6.38. (KL)

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