HONG KONG: Hong Kong stocks continued its gains on second day Wednesday morning, with the Hang Seng Index soared 0.9%.
Mainland Chinese shares also continued their recovery after Monday’s plunge, with the Shanghai Composite Index SHCOMP, +2.23% adding 1%. Online major Tencent Holdings Ltd. 0700, +3.46% TCEHY, +1.65% jumped 2.9% after it sold part of its stake in software developer Kingsoft Corp. 3888, +2.97% KSFTF, -0.52% to unlisted Xiaomi Technology, China’s fast-growing smartphone maker. Shares of Kingsoft climbed 2.8% on the news. Other tech firms also advanced, as online-game developer IGG Inc. 8002, +0.36% tacked on 1.1%, rival Boyaa Interactive International Ltd. 0434, +1.71% improved by 0.6%, and Kingsoft’s smaller competitor Kingdee International Software Group 0268, +0.42% KGDEF, +12.70% moved up 0.4%. On the downside, utility Cheung Kong Infrastructure Holdings Ltd. 1038, -1.07% retreated 1.9%, after it announced a 80-million share-placement plan to raise 4.6 billion Hong Kong dollars ($598 million). The firm also said it would partner with its parent company, Cheung Kong Holdings Ltd. 0001, -0.21% CHEUY, -0.11% to acquire British rail-stock-leasing company Eversholt Rail for almost $3.79 billion. Cheung Kong Holdings shares inched up 0.1%.
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...
