Hong Kong stocks closed firmer on Wednesday morning session despite the 165-point slide of the Dow overnight on Apple's profit warning. The benchmark index opened down 43 points or 0.2% to 27,486 and briefly dipped 81 points to an intra-day low of 27,448. It then recovered all of its losses and rose 167 points at one stage, hitting an intra-day high of 27,697, in hopes that the PBOC may cut its LPR (Loan Prime Rate).
The Hang Seng Index ended up 121 points or 0.4% to 27,651. The H-share index rose 107 points or 1% to 10,912. Half-day turnover decreased to HK$48.2 billion from HK$60 billion on Tuesday.
Blue chips were mostly firmer. HSBC (00005) softened 1% to HK$57.2 on jobs cut and poor earnings reports. HKEX (00388) edged up 0.1% to HK$270.2. Tencent (00700) added 0.9% to HK$411.8. China Mobile (00941) jumped 1.3% to HK$66.6. AIA Group (01299) was steady at HK$79.8.
CCB (00939) added 1.7% to HK$6.58. CM Bank (03968) rose 0.6% to HK$39. ICBC (01398) gained 1.1% to HK$5.57. BOC (03988) put on 1.3% to HK$3.24. ABC (01288) jumped 1.6% to HK$3.21. BankComm (03328) advanced 1% to HK$5.21.
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