HONG KONG: Hong Kong stocks fell Friday morning, with the benchmark Hang Seng Index trading 0.5% lower as index heavyweight HSBC Holdings PLC 0005, -0.95% HSBC, -0.92% HSBA, -1.04% likewise dropped 0.5% after news it had agreed to pay $43 million to settle a Swiss money-laundering probe. Among other notable movers, electric-car and battery maker BYD Co. 1211, -7.42% BYDDF, +10.12% 002594, -4.98% sank 5.4%, eating into its previous 8.8% surge, after newly issued central-government regulations lowered access to the electric-vehicle manufacturing industry . Oil stocks mostly suffered losses as international crude futures extended their slide: PetroChina Co. 0857, -1.77% 601857, -0.08% PTR, -0.97% declined 1.4%, also weighed down by news reports that a sales manager absconded with about 5 billion yuan ($800 million) along with her family. Meanwhile, China Petroleum & Chemical Corp. (Sinopec) 0386, -2.25% SNP, -1.34% lost 1.8%, and Cnooc Ltd. 0883, -0.67% CEO, -1.96% moved 0.5% lower. Cheung Kong Property Holdings Ltd. 1113, -4.35% Hong Kong tycoon Li Ka-shing’s recently spun-off property arm, extended losses by 3.7%. Banking shares also pulled back after previous gains, with Bank of Communications Co. 3328, -3.48% BKFCF, +0.52% 601328, -1.35% off 1.7%, China Construction Bank Corp. 0939, -1.52% CICHF, +1.99% 601939, -1.30% down 1.1%, and Bank of China Ltd. 3988, -1.15% BACHY, +0.26% 601988, -1.27% lower by 1%. However, on the Chinese mainland, the Shanghai Composite Index advanced 1.6% after a wild swing in the previous day, with the index now back above 5,000 for the first time in more than seven years. The Shanghai move came even as Hong Kong’s mainland-China-tracking Hang Seng China Enterprises Index HSCEI, -1.81% was quoted down 0.9%.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
