You are here

Hong Kong: Shares end higher helped by energy stocks

Wednesday, July 26, 2017 - 16:34

file6vkc3816274zqeby4a7.jpg
Hong Kong shares ended higher on Wednesday as gains by energy and financial shares overcame sluggishness in other sectors hit by profit-taking after the Hang Seng index temporarily breached the 27,000 mark in early trade.

[HONG KONG] Hong Kong shares ended higher on Wednesday as gains by energy and financial shares overcame sluggishness in other sectors hit by profit-taking after the Hang Seng index temporarily breached the 27,000 mark in early trade.

The benchmark Hang Seng index finished 0.3 per cent, or 88.97 points, higher at 26,941.02.

The benchmark index is on track for a seventh straight month of gains in July, which would be its longest such rally in 10 years.

The Hang Seng China Enterprises Index was up 0.5 per cent at 10,831.50.

sentifi.com

Market voices on:

Consumer cyclicals and technology shares, which were the leading gainers in the previous session, took the biggest hit.

AAC Technologies and Tencent Holdings, down 3 per cent and 0.3 per cent respectively, were the biggest drags on the benchmark.

However, a solid jump in energy shares lifted the index, as oil prices continued to rally, holding near eight-week highs hit in the previous session.

Energy sector heavyweights Sinopec, PetroChina and CNOOC rose between 1.7 per cent and 3 per cent.

China Construction Bank and ICBC were also among the top performers, up 1.4 per cent and 1.1 per cent respectively.

REUTERS

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom