Hong Kong stocks retreat as softness in banks and property overshadow gains in casinos, miners
The Hang Seng Index closes at 22,608.49, down 0.3 per cent in a session that saw miners climb to their best level in more than a year, tracking a global metal price rally
Hong Kong stocks edged down on Thursday, as a rally in mining, insurance and casino stocks was offset by the retreat of the heavily weighed property, banking and oil sectors.
The Hang Seng Index closed at 22,608.49, down 0.3 per cent or 68.2 points, while the Hang Seng China Enterprises Index increased 0.13 per cent or 12.78 points to 9,678.77.
Financial markets in the US will be closed Thursday for the Thanksgiving Day holiday.
The mining sector jumped sharply, tracking the global metal price rally on expectations that US president-elect Donald Trump will invest heavily in infrastructure projects.
China Daye Non-Ferrous Metals Mining soared 19.72 per cent to a one-year high at 17 Hong Kong cents a share amid a surge in trading turnover. Fellow miner Yue Da Mining Holdings rocketed 14.29 per cent to 36 Hong Kong cents a share.
Jiangxi Copper Company closed 6.42 per cent higher to its best level since June, 2015, while CITIC Dameng Holdings rose 5.56 per cent to 57 Hong Kong cents a share.