[ET Net News Agency, 23 July 2018] HK stocks closed firmer on Monday in volatile trade
following the weaker close of the US equity markets on Friday despite the US president
Donald Trump's renewed threat to impose tariffs on Chinese products.
The benchmark index opened up 74 points to 28,298. It briefly touched an intra-day high
of 28,391 (up 167 points) and then dipped 133 points to an intra-day low of 28,091,
hitting a new low for the year.
The Hang Seng Index ended up 31 points or 0.1% to 28,256. The H-share index rose 48
points or 0.5% to 10,731. Turnover decreased to HK$83.96 billion from HK$100.3 billion on
Friday.
Tencent (00700) dipped 1.5% to HK$371. The tech giant said, it will join hands with
Alibaba and China Media Capital to buy a minority stake in advertising giant WPP's Chinese
unit.
China Mobile (00941) gained 1% to HK$69.15. China Tower (00788), a JV among the Chinese
telecom trio, today kicked off its IPO roadshow.
China Taiping (00966) jumped 4.2% to HK$27.1 after it issued positive profit alert.
Japan passed new gambling law. Niraku (01245) soared 11.6% at one stage, but ended up
2.9% to HK$0.71. Galaxy Entertainment (00027) nudged up 0.4% to HK$62.25.
Xiaomi (01810) slipped 4.3% to HK$19.02. (KL)