HK holiday lethargy hits shares
THE Shenzhen B share index suffered from lack of activity in Hong Kong yesterday, with 10 of the 20 counters not traded and several trading only a handful of shares.
The big mover of the day was again SEZ Real Estate which continues to attract investor interest. Yesterday it saw 137,000 shares traded, but its price moved only through a narrow range, opening at $3.45 and dropping to $3.40, before picking up to $3.50 and closing at its opening quote.
The other big mover of the day was Zhuhai Special Economic Zone Lizhu, which saw 132,000 shares traded. The counter lost 10 cents on the day, opening at $5.10 and closing at $5.
The two companies made up almost 75 per cent of trade activity, reflecting again the poor liquidity of the market.
Brokers said they were hoping for more activity today as Hong Kong's long Easter break ends, but they were not optimistic.
The Credit Lyonnais Shenzhen A and B share indexes were not available last night.