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Mainland developers rose to lift the market.
The Hong Kong market opened slightly lower on Thursday. Hang Seng index opened down 13 points, H share index down 9 points and technology index down 13 points. Wuxi Biologics rose ...
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Mainland developers rose to lift the market.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened slightly lower on Thursday. Hang Seng index opened down 13 points, H share index down 9 points and technology index down 13 points. Wuxi Biologics rose 5% to lead the blue chips for 18-point gain. On the contrary, AIA lost 0.63% for 9-point loss. Netease lost 1.7% to lead the losers. A shares opened up 13 points. The market turned from loss to gain after opening. Wuxi Biologics rose 8.3% for 29-point gain. AIA rose 0.7% for 11-point gain. Meituan rose 0.7% for 10-point gain. Various provinces launched policies to save the property sector. The market rose on the strength of Mainland developers. Country Garden rose 11.2% to become the top gainer. CG Services rose 10.2%. Lonfor rose 8.3%. China Overseas Land rose 5.6%. CR Land rose 4.87%. Cifi rose 12.4%. Vanke rose 4.35%. Tencent Music would be listed in Hong Kong next week by introduction. No funds would be raised. Tencent rose slightly. CM Bank rose 4.6% for 13-point gain. Ping An rose 2.2% for 12-point gain. Power generators fell. Huadian International lost 5.4%. CR Power lost 4.55%. China Power lost 5.25%. Huaneng International lost 5%. Datang Power lost 4.4%. Auto shares fell. Geely lost 5.22% to lead the losers. BYD lost 1.9%. Li Auto lost 2.5%. Great Wall lost 2.85%. Solar energy stocks fell. Xinte Energy lost 5.8%. Xinyi Solar lost 2.75%. GCL lost 3.7%. A shares closed the morning down 33 points. Hang Seng index closed up 87 points, H share index up 41 points and technology index up 8 points. Turnover was $45.1 billion.

The market was little changed in the afternoon. Hang Seng index gained about 100 points. Wuxi Biologics rose 6.7% for 20-point gain. Alibaba rose 0.98% for 14-point gain. Meituan rose 1.04% for 14-point gain. CR Land rose 6.2% for 11-point gain. CM Bank rose 4.2% for 11-point gain. HSBC lost 0.63% for 9-point loss. The Fosun Group discussed cooperation with the State investment company of Beijing. Fosun rose 9.65%. All six existing Macau gaming operators plus Genting of Malaysia applied for the gaming licenses. Macau gaming shares fell. Sands lost 2.2%. SJM lost 1%. Wynn lost 6%. MGM lost 1.4%. Galaxy lost 0.9%. Container freight rates fell. Shipping stocks fell. OOIL lost 3.4%. Cosco Holding lost 2.3%. Cosco Energy lost 4%. Coal miners fell as the price of thermal coal fell. Yankuang Energy lost 5.3%. YK Australia lost 3%. China Coal lost 1.2%. The Central Government asked local governments to relax the restrictive policies regarding residential properties. Mainland developers rose. Country Garden rose 8.7%. CR Land rose 7%. Longfor rose 5.2%. China Overseas Land rose 5.1%. A shares closed down 37 points. Hang Seng index closed up points, H share index up points and technology index up points. Turnover was $ billion.

Overnight, overseas markets mostly fell. DAX lost 71 points. CAC lost 64 points but FTSE rose 4 points. US markets fell. Dow Jones lost 173 points. S & P lost 44 points and Nasdaq lost 167 points. Hong Kong ADR’s lost 107 points. Night future lost 43 points. We expect the market to fall today.
 
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