Market Open: Hong Kong stocks seen higher as Xi vows quality growth | South China Morning Post
  • Tue
  • Jan 27, 2015
  • Updated: 5:12pm
Stock Talk
PUBLISHED : Friday, 07 December, 2012, 8:58am
UPDATED : Friday, 07 December, 2012, 4:24pm

Market Open: Hong Kong stocks seen higher as Xi vows quality growth

Hong Kong stocks may see higher after China's new leader Xi Jinping on late Thursday asked the nation's economic planners to shun "exaggerated" GDP figures and instead work for quality economic growth when pushing market reforms.

Hong Kong stocks may see higher after China's new leader Xi Jinping on late Thursday asked the nation's economic planners to shun "exaggerated" GDP figures and instead work for quality economic growth when pushing market reforms.

Overnight, the Standard & Poor's 500-stock index added 4.66 points, or 0.33 per cent, to close at 1,413.94. The Nasdaq Composite added 15.60 points, or 0.52 per cent, to 2,989.27. In London, the FTSE-100 Index added 9.34 points, or 0.16 per cent, to end at 5,901.42.

Hot Stocks of the Day:

Huadian Power International (1171.HK) and China Shenhua Energy (1088.HK)
The company's parent companies have won the mining rights to explore shale gas blocks in the nation's 2012 tender.

TCL Communication Technology (2618.HK)
The company said its total sales, including mobile phones, rose 8 per cent year-on-year in November, while its January-November total sales fell 2 per cent from the same period a year earlier.

Longfor Properties (0960.HK)
The company said November contracted sales amounted to 3.92 billion yuan, up 2.6 per cent month-on-month and 5.9 per cent year-on-year. As of the end of November, the property developer has achieved 92 per cent of its full-year sales target, it said.

Prada (1913.HK)
The luxury brand said net profit jumped 30 per cent to 122 million euros in the three months ended October 31, while net profit for the nine months to October 31 jumped 49.6 per cent to 409 million euros, it said. Same-store growth amounted to 18 per cent during the first three quarters, it said.

PICC Group (1339.HK)
The nation's leading insurer will debut in Hong Kong trading after pricing its shares at HK$3.48 per share, near the bottom of the indicative IPO pricing range. Shares gained 6.3 per cent in the grey market on Thursday.

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