[ET Net News Agency, 18 October 2019] Hong Kong stocks closed weaker on Friday despite
the firmer close of the Dow overnight. The blue-chip index opened up 62 points to 26,910
and briefly rose 136 points to the day high of 26,985. It then gave up all of its gains
and fell 198 points in the late afternoon trade, hitting the day low of 26,650.
China released its 3Q GDP showing the economy grew 6% compared to market consensus of
6.1% growth.
The Hang Seng Index ended down 128 points or 0.5% to 26,719. But the H-share index fell
48 points or 0.5% to 10,540. Turnover increased to HK$77.1 billion from HK$72.2 billion on
Thursday.
Blue chips were mixed and little changed. HSBC (00005) was unchanged at HK$60.9. HKEX
(00388) added 0.5% to HK$238.2 after both Goldman Sachs and HSBC Research raised their
target prices for the stock exchange operator. Tencent (00700) was steady at HK$331. China
Mobile (00941) rose 0.2% to HK$66.15. AIA (01299) nudged down 0.5% to HK$75.35.
Property counters saw profit-taking selling after days of rally. Sino Land (00083) shed
2.4% to HK$12. New World Development (00017) slipped 1.6% to HK$11. CK Assets (01113)
declined by 1% to HK$53.25. Sun Hung Kai Properties (00016) softened 0.9% to HK$115.1.
Kerry Properties (00683) sagged 1.8% to HK$24.35. Henderson Land (00012) descended 1.9% to
HK$38. Hang Lung Properties (00101) fell 1% to HK$17.28. (KL)