Hong Kong equities retreat on Thursday

Source: Dukascopy Bank SA
Hong Kong stocks closed flat on Thursday, halting their gains over the last two days, as financial blue chips extended their losses. The Hang Seng Index slipped 0.4% to22,682.57. Five out of nine groups in the benchmark index declined. Belle International, a footwear retailer, topped losses among all blue chip companies, as it slumped 3% to HK$14.94 and dragged down consumer services group. by 0.4%. China Resources Power followed with a 2% decline, capping further increase in the best performing utility group, as it sold its stake in Shanxi Coal Mine. Furthermore, Sands China Ltd, an owner of casinos in Macau, lost 1.5% to HK$35.90, contributing to a decline in consumer services. Meanwhile, among top performers was Li & Fung that posted biggest gains in the index, as it rallied 4% to HK$ 10.82 to cap losses in consumer services group. Hang Lung Properties Ltd. Rose 3% to halt further decline in financial shares.


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