HONG KONG: Hong Kong stocks soared on Thursday morning, heading toward a third day of increases after China’s central bank added 50 billion Yuan ($8 billion) of liquidity into the markets.
The Hang Seng Index HSI, +0.43% added 0.8%, with the Hang Seng China Enterprises Index up 1.1%. The People’s Bank of China has rolled over the maturing 269.5-billion-yuan Medium Lending Facility to banks and added an extra 50 billion Yuan via the tool to cope with seasonally tight liquidity ahead of the Chinese New Year festival, the central bank said Wednesday night on its official Weibo account. Major Chinese banks rose across the board, with Bank of China Ltd. 3988, +0.91% BACHY, +3.35% 601988, -2.25% gaining 1.6%, China Merchants Bank Co. 3968, +0.22% CIHHF, -5.79% 600036, -1.63% adding 1.1%, Agricultural Bank of China Ltd. 1288, +0.26% ACGBF, +11.34% 601288, -1.86% rising 1%, Industrial & Commercial Bank of China Ltd. 1398, +0.52% IDCBF, +1.84% 601398, -1.83% higher by 0.7%, and both China Construction Bank Corp. 0939, +0.31% CICHF, +3.23% 601939, -1.75% and China Citic Bank Corp. 0998, -0.69% CHBJF, +0.00% 601998, -1.64% tacking on 0.9%. Chinese online major Tencent Holdings Ltd. 0700, +1.86% TCEHY, +3.36% and telecoms giant China Mobile Ltd. 0941, +0.98% CHL, +5.17% helped boost the benchmark index, of which they are the top-weighted components along with HSBC Holdings PLC 0005, +1.35% HBSC HSBA, +1.66% Tencent improved by 2.3%, China Mobile moved 1.3% higher, and HSBC added 1.2%. Among other movers, China Taiping Insurance Holdings Co. 0966, +2.97% rallied 5.7% after the insurer said it expected its net profit to more than double in 2014. Over on the mainland, the Shanghai Composite Index SHCOMP, -0.20% edged up 0.2%.
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...
