Staff of Reuters FTSE China A50 -0.1% FTSE China A50 -0.1% FTSE China A50 -0.1% FTSE China A Reuters, June 28 – On Monday, Hong Kong stocks finished marginally down as losses in energy and materials industries overshadowed advances in consumer and healthcare companies. * * The Hang Seng index fell 19.92 points to 29,268.30, or 0.07 percent. The Hang Seng China Enterprises index dropped 0.14 percent to 10,863.57 points. * The Hang Seng sub-index that tracks energy stocks fell 1.6 percent, while the materials sector fell 2.3 percent and the consumer discretionary index and healthcare sector climbed 1.7 percent and 1.8 percent, respectively. * ANTA Sports Products Ltd was the highest gainer on the Hang Seng, rising 5.45 percent, while Geely Automobile Holdings Ltd was the largest loser, down 2.11 percent.** China’s main Shanghai Composite index lost 0.03 percent to 3,606.37 points, but the blue-chip CSI300 index rose 0.23 percent. * MSCI’s Asia ex-Japan market index was up 0.02 percent, while Japan’s Nikkei index was down 0.06 percent.** The yuan was quoted at 6.4555 per US dollar at 0847 GMT, down 0.01 percent from the previous closing of 6.455. * At the time of writing, China’s A-shares were trading at a 37.90 percent premium over Hong Kong-listed H-shares. * Profit growth at China’s industrial firms slowed again in May, according to data released over the weekend, as rising raw material prices squeezed margins and slowed factory activity** Profits at China’s industrial firms rose 36.4 percent year on year in May to 829.92 billion yuan ($128.58 billion), according to official data released on Sunday. According to the National Bureau of Statistics, that was a decrease from the 57 percent increase announced in April.** Shares of China’s homegrown sportswear company Li Ning Co Ltd rose as much as 27.6% to a new high before closing 13.6 percent higher on a strong earnings outlook. (Shanghai Newsroom contributed to this report.) Continue reading
