Hong Kong shares end flat, Li & Fung in biggest gain in 4½ years

PUBLISHED : Thursday, 15 August, 2013, 2:58pm
UPDATED : Thursday, 15 August, 2013, 5:35pm

Hong Kong shares ended flat on Thursday, as weakness in the local property sector offset an 11.6 per cent surge for Li & Fung as investors covered short bets on hopes that the worst is over for the exporter.

The Hang Seng Index ended flat at 22,539.3 points after closing on Tuesday at its highest since May 29. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.2 per cent.

Both pared gains on re-emerging uncertainty over when the US Federal Reserve will pare its stimulus, which weighing on property and financial shares. The gain for Li & Fong on Thursday was its biggest since April 2009.

Bourse turnover was at its heaviest since June 26 as investors returned to the markets after a typhoon forced the suspension of trade on Wednesday.