TC

30/09/2014 12:09

HSI ends down 278 pts at 22,950 midday; turnover at HK$41bn

   HK stocks closed sharply lower on robust trade on Tuesday morning session as the "Occupy Central" campaign even dragged the Dow lower.
  The benchmark opened down 91 points and saw its losses widen to 374 points after the HSBC China manufacturing PMI was revised down to 50.2 from its flash reading of 50.5.
  The Hang Seng Index ended down 278 points to 22,950. The H-share index fell 109 points to 10,329. Half-day turnover reduced to HK$40.56bn from HK$47.55bn on Monday.
  Property counters became victims of the political protests as new residential projects launched are put off to a later time. Cheung Kong (00001) dipped 2.5% to HK$126.4. Henderson Land (00012) fell 3.2% to HK$49.7. New World (00017) slid 2.8% to HK$ 8.93. SHKP (000016) softened 1.8% to HK$110.1. Sino Land (00083) bucked the trend, rising 0.5% to HK$11.98.
  The MITI said earlier today that it has granted a network access license to Apple's iPhone 6. But the news has failed to inspire the Chinese telecom carriers. China Unicom (00762) declined 2% to HK$11.7. China Mobile (00941) dropped 0.7% to HK$91.9. China Telecom (00728) nudged down 0.6% to HK$4.83.
  Coal mining names were mixed after the State Council announced reform on coal resource tax to lower the burden of enterprises. China Shenhua (01088) was flat at HK$21.8. Yanzhou Coal (01171) slipped 1.9% to HK$6.29. China Coal (01898) edged up 0.7% to HK$4.51.

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