Hong Kong shares move up; property developers limit gains

Source: Dukascopy Bank SA
Hong Kong shares moved higher on Friday despite broad weakness across Asian stock markets and dismal data from the Eurozone. Meanwhile, trade was subdued as mainland's markets were closed for Lunar New Year holiday. The Hang Seng Index added 0.13% to close at 23,444.56. Six out of nine industries included in the index were bullish. The top-performers were consumer services and technology industries, gaining 1.33% and 0.96%. Sands China climbed 2.74% on signs of growing number of Macau visitors. Tencent rose 0.96%, pacing gains in the technology industry. Limiting the upward trend in Hong Kong equities, consumer goods and basic materials slumped. Want Want China and Esprit Holdings dived 3.10% and 1.17%. Other notable laggards were property developers amid concerns that strong holiday's sales will prompt the government to introduce housing curbs. Sino Land, SHK Properties and Henderson Land slid 0.70%, 0.40% and 0.37%, respectively.
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Fri, 15 Feb 2013 14:29:04 GMT

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