Hang Seng eased up on property developers' rally

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Hong Kong shares closed slightly higher on Wednesday as strong performance of the China's real estate industry outweighed weakness of financials. Hang Seng Index rose 0.1% to 19,419.9 as stable investments in infrastructure provided additional support for the cement and railway stocks. Financial sector lost 0.10% after reports that Hong Kong's banks were exposed to bed loans.  China Construction Bank declined by 3% after Caixin magazine reported that the bank will be owed about CNY3 billion in case clients of Hangzhou-based conglomerate default on their debts. Industrial and Commercial Bank of China followed bearish trend, plunging by 1.9% and 1.4%.

 

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