HONG KONG: Hong Kong stocks muzzled higher Thursday ahead of Chinese manufacturing-profit data for last month. The Hang Seng Index soared 0.2%.
Chinese insurers jumped after Shanghai announced new policies to support the insurance sector and vowed to develop a modern insurance-service system and build the city into an international insurance center by 2020. China Life Insurance Co. 2628, +0.75% LFC, +9.31% jumped 3.2%, PICC Property & Calsualty Co. 2328, +0.53% PPCCY, +4.59% climbed 2.4%, China Pacific Insurance Group Co. 2601, +0.46% 601601, +0.75% CHPXF, +0.00% gained 2.3%, and Ping An Insurance Group Co. 2318, +0.08% PNGAY, +5.15% 601318, +1.38% advanced 2%. Energy stocks traded mixed after falling hard the previous day on the back of declining international crude prices. Cnooc Ltd. 0883, -0.83% CEO, +0.95% lost 0.8%, while China Petroleum & Chemical Corp., or Sinopec, 0386, +0.16% SNP, +2.36% rebounded 1.2%, and PetroChina Co. 0857, -0.23% 601857, +0.13% PTR, +1.64% recovered 1%. The tech sector suffered wide losses, with online-game developer Baioo Family Interactive 2100, -3.80% down 2.5%, rival Forgame Holdings Ltd. 0484, -0.65% off 1.3%, and software developer Kingsoft Corp. 3888, -1.58% KSFTF, -4.00% lower by 0.5%. Tencent Holdings Ltd. 0700, -0.48% TCEHY, +1.18% the Hang Seng Index’s lone Internet-share component, gave up 0.8%. Over on the Chinese mainland, the Shanghai Composite Index SHCOMP, +0.44% tacked on 0.6%.
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...
