New | Lenovo leads modest recovery in Hong Kong market
Lenovo Group led a modest recovery on the Hong Kong stock market Tuesday morning, gaining 3.87 per cent to HK$10.72 as 42 of 48 Hang Seng Index constituents returned to positive territory.
Mainland banks and insurers posted high turnover and reassuring gains in the 1 to 4 per cent range, but Macau casinos continued to suffer, with Galaxy Entertainment and Sands China dropping by 2.25 per cent and 1.87 per cent respectively.
READ MORE: China share market yet to hit its peak, says Lenovo founder Liu Chuanzhi
Hong Kong Exchanges and Clearing dominated turnover with HK$3.3 billion, but its share price gained just 0.22 per cent despite the Hang Seng defying its mainland counterparts to finish the morning 1.21 per cent up from the previous close.
In the minors, marine engineering firm UDL Holdings slumped 25 per cent to HK$3.72 on resumption of trading after it announced the completed sale of 69 per cent of its issued share capital at HK$2.33 per sale share.
Meanwhile, investors in Huiyin Household Appliances were buoyed by news of a strategic e-commerce partnership, lifting its share price by 11.76 per cent to HK$1.90 at midsession close.
