[ET Net News Agency, 22 March 2018] HK stocks closed weaker on Thursday morning session
in tandem with the softer tone of the Dow overnight after the Fed raised interest rate by
25 basis points as market expected. The Hang Seng Index opened up 161 points to 31,575. It
then pared all its gains and fell as much as 299 points to 31,115, thanks to the decline
of Tencent (00700) and others big caps.
The Hang Seng Index ended down 196 points or 0.6% to 31,218. The H-share index fell 37
points or 0.3% to 12,483. Half-day turnover increased to HK$85.6 billion from HK$78.9
billion on Wednesday.
Tencent (00700) slid 3.3% to HK$447.4 despite its earnings report came in better than
expectations. But some research houses said its game revenues were disappointing. Kingsoft
Corporation (03888) plunged 9.1% to HK$26.9 even though its 2017 results turned around,
with an earnings of HK$3.2 billion.
HKEX (00388) registered a 5-day decline on a slew of negative news. It dipped 2% to
HK$253.8.
Oil prices rose 3% overnight on reduced crude inventory. Sinopec (00386) gained 1% to
HK$6.81. CNOOC (00883) ascended 1.2% to HK$11.78. PetroChina (00857) added 1.5% to
HK$5.55.
Ping An Insurance (02318) softened 0.4% to HK$87.95 after the insurer clarified about
reports on the IPO of Lufax. (KL)