[ET Net News Agency, 20 October 2017] HK stocks closed sharply higher on Friday despite
the flat close of the US equity markets overnight. The Hang Seng Index opened up 200
points to 28,360. It briefly rose 360 points to an intra-day high of 28,519.
The Hang Seng Index ended up 328 points or 1.2% to 28,487. The H-share index rose 200
points or 1.8% to 11,558. Turnover decreased to HK$96.7 billion from HK$116.5 billion on
Thursday.
The northbound quota balance of the "Shanghai-HK Connect" program was RMB13.126 billion,
exceeding the daily allowed quota of RMB13 billion. It indicated a net outflow of RMB126
million. The southbound quota balance was RMB9.667 billion, accounting for 92.1% of the
daily allowed quota of RMB10.5 billion.
As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.909 billion,
accounting for 99.3 of the daily allowed quota of RMB13 billion. The southbound quota
balance was RMB9.996 billion, accounting for 95.2% of the daily allowed quota of RMB10.5
billion.
Geely Automobile (00175) rebounded 5.8% to HK$26.3, becoming the biggest blue-chip
gainer. Dongfeng Motor Group (00489) added 1% to HK$10.82. Brilliance China Automotive
(01114) soared 5% to HK$21.55. BYD (01211) shot up 3% to HK$75.8. GAC Group (02238) surged
6% to HK$20.1.
Cement counters also saw strong buying orders. Anhui Conch Cement (00914) jumped 5.5% to
HK$34.4. CNBM (03323) and Sinoma (01893) soared 11% to HK$6.68 and HK$5.5.
Big Four Chinese lenders also staged rebound. CCB (00939) rose 2.2% to HK$6.93. ABC
(01288) was up 1% to HK$3.65. ICBC (01398) bounced 2.8% to HK$6.3. BOC (03988) put on 1.3%
to HK$4.04.
Mainland insurers also picked up upward momentum. Ping An (02318) gained 2.7% to
HK$66.45. PICC P&C (02328) added 1.2% to HK$14.96. China Life (02628) ascended 1.2% to
HK$24.5. China Taiping (00966) shot up 2% to HK$24.45.
AIA (01299) dipped 1.5% to HK$60.2 after it reported value of new business growth of 20%
in 3Q. It was the biggest blue-chip loser today. (KL)