HK stocks closed slightly weaker on Thursday morning session despite the 800-point plunge of the Dow overnight. The blue-chip index opened down 356 points to 24,945 and then dipped to an intraday low of 24,899 (down 402 points). It then gradually recovered all of its losses and touched an intraday high of 25,435 (up 133 points) at one stage.
The Hang Seng Index ended down 42 points or 0.2% to 25,259. The H-share index fell 25 points or 0.3% to 9,840. Half-day turnover increased to HK$54.9 billion from HK$45.5 billion on Wednesday.
Blue chips nearly rose across the board. HSBC (00005) dipped 1.7% to HK$56.25. HKEX (00388) edged down 0.3% to HK$234.6. Tencent (00700) slipped 2.9% to HK$330. China Mobile (00941) jumped 3% to HK$64.6. AIA (01299) nudged up 0.9% to HK$73.95.
Property counters rebounded after dropping earlier as BofAML published a research report saying that agricultural land conversion is the best option for future land supply. Swire Properties (01972) jumped 2.3% to HK$26.9. Henderson Land Development (00012) shot up 1.9% to HK$36.75. Sino Land (00083) ascended 2.4% to HK$11.28. Sun Hung Kai Properties (00016) put on 2.1% to HK$110.6. Kerry Properties (00683) elevated 1.3% to HK$27.2. New World Development (00017) soared 5% to HK$9.54. Hang Lung Properties (00101) added 1.2% to HK$17.38. CK Asset (01113) gained 0.8% to HK$50.55.
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