[ET Net News Agency, 15 December 2017] HK stocks closed sharply lower on Friday
following the decline of global equity markets overnight. The Hang Seng Index opened down
166 points to 29,000. It barely saw a day high of 29,017, and fell as much as 427 points
in afternoon trade, seeing an intra-day low of 28,738.
The Hang Seng Index ended down 318 points or 1.1% to 28,848. The H-share index also fell
165 points or 1.4% to 11,365. Turnover increased to HK$126.5 billion from HK$106.5 billion
on Thursday.
The northbound quota balance of the "Shanghai-HK Connect" program was RMB14.064 billion,
surpassing the daily allowed quota of RMB13 billion. It indicated a net outflow of
RMB1.064 billion. The southbound quota balance was RMB8.568 billion, or 81.6% of the daily
allowed quota of RMB10.5 billion.
As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.539 billion, also
exceeding the daily allowed quota of RMB13 billion. It meant a net outflow of RMB1.458
billion. The southbound quota balance was RMB9.442 billion, accounting for 89.9% of the
daily allowed quota of RMB10.5 billion.
Macau gaming counters rose across the board after the government has proposed six casino
operators to jointly set up a business to operate a shared shuttle bus service serving
their respective properties. Galaxy Entertainment (00027) rose 1.8% to HK$61.85. It was
the best blue-chip winner.
Melco International Development (00200) gained 1.1% to HK$22.75. Wynn Macau (01128) put
on 1.9% to HK$24.65. Sands China (01928) added 0.3% to HK$40.65. SJM Holdings (00880) rose
0.7% to HK$6.84. But MGM China (02282) edged down 0.2% at HK$23.9.
Handset components makers continued their recent weakness. AAC Technologies (02018)
slipped 1.1% to HK$139.4. Sunny Optical Technology (02382) softened 1% to HK$102. BYD
Electronic (00285) slid 5.1% to HK$15.8. Q Technology (01478) plunged 7.1% to HK$11.26.
But Fit Hon Teng (06088) edged up 0.9% to HK$5.66.
Li & Fung (00494) soared 8.6% to HK$4.43 after the company announced a divestment plan
of product verticals business for US$1.1 billion. (KL)