Hong Kong stocks rebounded Tuesday morning following three straight day of losses, with the benchmark Hang Seng Index HSI, -1.00% up 0.4%, and the mainland-China-tracking Hang Seng China Enterprises Index HSCEI, -2.14% also rising 0.3%. Energy shares gained across the board after China’s three largest state-owned oil companies replaced their chairmen the previous day, a move seen as paving the way for China’s central government to accelerate its state-owned enterprise (SOE) restructuring and reform in the sector. Among the top three energy names, PetroChina Co. 0857, -1.49% 601857, +0.67% PTR, +0.86% advanced 1.2%; China Petroleum & Chemical Corp., better known as Sinopec, 0386, -1.22% SNP, +0.89% added 0.7%; and Cnooc Ltd. 0883, -1.06% CEO, -0.08% traded 0.6% higher. Other energy-sector majors also rose, with China Oilfield Services Ltd. 2882, -1.32% 601808, +9.99% CHOLY, -1.01% cracking 4.1% higher, Kunlun Energy Co. 0135, -0.86% KUNUF, -11.20% improving by 1.2%, Sino Oil & Gas Holdings 0702, -2.29% tacking on 0.5%, and Sinopec Shanghai Petrochemical Co. 0338, -6.04% 600688, -2.96% edging up 0.2%. In Shanghai, the A-shares of the oil companies also posted substantial gains, as Sinopec Oilfield Service Corp. 600871, +4.89% surged 6.4%, Sinopec rallied 3.1%, and PetroChina climbed 2%. Meanwhile, Chinese brokerage Haitong Securities Co. 6837, -1.20% 600837, +0.14% moved 1.2% higher after a Financial Times report said the company planned to recruit hundreds of bankers in Europe and the Americas to expand the operations of Banco Espirito Santo de Investmento, a Portuguese invesetment bank they acquired last year. Other Chinese brokers were mixed, as Citic Securities Co. 6030, -1.47% CIIHF, +42.06% advanced 1.2%, and China Everbright Ltd. 0165, -1.75% CEVIF, -1.21% rose 0.2%, while Guotai Junan International Holdings Ltd. 1788, -6.53% declined 3.9%, and China Galaxy Securities Co. 6881, -3.91% lost 1.6%. Among other market movers, electric-car maker BYD Co. 1211, -1.68% BYDDF, +1.31% 002594, -3.68% nosed 0.8% higher after industry data showed the company led China’s alternative-energy auto market by selling 7,418 such vehicles in the first quarter, accounting for nearly 40% of the entire market. Other auto makers mostly fell, with Brilliance China Automotive Holdings Ltd. 1114, -1.90% BCAUF, -5.26% down 0.8%, Geely Automobile Holdings Ltd. 0175, -1.13% GELYF, +2.89% off 0.7%, and Great Wall Motor Co. 2333, -3.29% lower by 0.5%. On the Chinese mainland, the Shanghai Composite Index SHCOMP, -1.84% retreated 0.3%.
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...
