[ET Net News Agency, 28 October 2019] Hong Kong stocks closed higher on Monday
following the firmer close of the Dow on Friday on reports that the US said both sides are
close to finalizing sections of the first phase of a trade deal.
The blue-chip index opened up 102 points to 26,770, which nearly marked the day low. It
then saw its gains widen to 338 points at one stage, reaching the day high of 27,005.
The Hang Seng Index ended up 223 points or 0.8% to 26,891. The H-share index rose 103
points or 1% to 10,569. Turnover increased to HK$81 billion from HK$67.2 billion on
Friday.
Blue chips were mostly firmer. HSBC (00005) sank 2.3% to HK$60.25 after its 3Q earnings
came in lower than expectations. It was the biggest blue-chip loser. HKEX (00388) added
0.8% to HK$243.2. Tencent (00700) gained 1.7% to HK$322. China Mobile (00941) rose 0.6% to
HK$64.85. AIA (01299) jumped 4.2% to HK$77.9.
Other banking stocks were also dragged down by HSBC. Hang Seng Bank (00011) dipped 0.7%
to HK$166. BOCHK (02388) was steady at HK$27.2. Standard Chartered (02888) slipped 1.7% to
HK$68.85. Bank of East Asia (00023) softened 0.1% to HK$18.96.
Chinese automakers jumped across the board. Geely Automobile (00175) shot up 3.5% to
HK$14.68. Great Wall Motor (02333) surged 13.9% to HK$6.23. GAC Group (02238) climbed 4.5%
to HK$8.3. Dongfeng Motor Group (00489) added 4.1% to HK$7.96. BYD Company (01211) rose
2.2% to HK$39.2. (KL)