Hang Seng advanced amid improved lending

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

Hong Kong shares were mostly higher on Friday as slowdown in China's growth was not much worse than forecast. China's GDP expanded by 7.6% in Q2, the slowest pace since 2009. Hang Seng Index climbed 0.5% to trade at 19,102.38. Financial institutions bounced off previous lows after late Thursday's data indicated that  lending approached three-month high in June. China Construction Bank and Agricultural Bank of China rose 1% and 0.4%.  At the same time, Sun Hung Kai Properties' chairmen of were accused of bribery and public misconduct. The company was suspended from trading in Hong Kong. Shares of oil and gas companies were mixed amid China's energy demand concerns after weak GDP data. PetroChina fell 0.11% while Sinopec added 1.94%.

 

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