Hong Kong stocks end the week flat, mainland higher on gains in infrastructure, shipping sectors
Chinese football stocks rise after the national team’s surprise victory over South Korea
Hong Kong’s stock market recovered from earlier losses to end Friday’s trading largely flat, with the Hang Seng Index edging up and the Hang Seng China Enterprise Index drifting lower.
The Hang Seng Index added 0.1 per cent or 31 points to close at 24,358, while the Hang Seng China Enterprises index dipped 0.1 per cent to 10,477.
China Huishan Dairy Holdings was suspended from trading in Hong Kong after it plunged 91 per cent from HK$2.80 to HK$0.42 as of 1pm Friday.
Property shares lost ground after news that Union Pay, the country’s biggest interbank payments platform, barred its mainland customers from buying homes in Hong Kong using its services, effective Friday.
Hong Kong developer New World Development shed 1.5 per cent to HK$9.8 at the close while Henderson Land lost 1.2 per cent to HK$48.3. Sino Land declined 1 per cent to HK$13.8.
Meanwhile, energy heavy weight CNOOC surged 4 per cent to close at HK$9.2 after the oil major announced a 97 per cent year-on-year drop in net profit to 637 million yuan (US$92.5 million), which still beat expectations.