New | Chinese markets mixed by midday in thin dealings, Hong Kong gains

Chinese markets put in a mixed performance by midsession on Friday while Hong Kong stood firmer as it took a defensive stance in thin, somewhat featureless trade.

Shanghai’s Composite Index closed the morning session at 3,195.54, down 0.07 per cent, or 2.35 points. The CSI300 Index shed 0.14 per cent or 4.9 points at 3,352.66.

The Shenzhen Composite Index closed the morning at 1,773.69, up 0.19 per cent or 3.32 points. The NASDAQ-style ChiNext Index closed up 0.59 per cent, or 12.02 points, at 2,051.14.

Hong Kong’s Hang Seng Index finished the morning up 0.86 per cent, or 185.56 points, at 21,748.06, while its H-share Index tracking mainland Chinese enterprises closed at 9,853.72, up 0.75 per cent, or 73.56 points.

“Although A-share is still on a downside track and the sentiment may spill over to Hong Kong at any time, investors feel Hong Kong is relatively more defensive at its current level,” Haitong International Securities strategist Kevin Leung said.

The mainland market had seen a modest pickup when the benchmark Shanghai index briefly increased 0.77 per cent and Shenzhen’s ChiNext was almost 2 per cent up, surpassing 2,080.