HONG KONG: Hong Kong stocks popped higher Monday morning after China unveiled more details and projections for its “New Silk Road” plan to boost trade and economic relations with the rest of Eurasia and Africa. The Hang Seng Index HSI, +1.50% advanced 1.2%, with the mainland-China-tracking Hang Seng China Enterpriese rallying 2.7%. On the mainland itself, the Shanghai Composite Index SHCOMP, +1.62% rose 0.9%. Over the weekend, Chinese President Xi Jinping said he expected the “One Belt, One Road” initiative, part of the wider Silk Road trade-promotion plan to better link regional infrastructures, to boost annual trade between China and the economies invovled to more than $2.5 trillion. More importantly for the market, the plan is slated to include investment in railways, roads, power grids, oil and gas pipelines, ports and other such facilities, and this helped lift the related stocks. Railway and construction shares surged in Hong Kong, as China Railway Group Ltd. 0390, +14.31% 601390, +5.35% CRWOF, +7.69% soared 13.9%, China Railway Construction Corp. 1186, +12.20% 601186, +6.49% CWYCF, +4.96% climbed 12.4%, and Zhuzhou CSR Times Electric Co. 3898, +6.90% rallied 6.9%. Shippng shares also shined, as China Shipping Container Lines Co. 2866, +8.44% CITAF, +0.00% improved by 8.4%, China Cosco Holdings Co. 1919, +6.04% CICOF, -3.61% jumped 6.8%, and Sinotrans Shipping Ltd. 0368, +1.18% SSLYF, -2.38% climbed 4.4%. The tech sector also rallied across the board, as NetDragon Websoft Inc. 0777, +14.06% NDWTF surged 10.6%, Kingsoft Corp. 3888, +9.02% KSFTF, +38.02% gained 7.8%, Kingdee International Software Group 0268, +8.52% KGDEF, +11.27% rose 6.9%, and Hang Seng Index heavyweight Tencent Holdings Ltd. 0700, +3.03% TCEHY, +2.89% advanced 2.3%.
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...
