Mon. Oct 21st, 2019

Hang Seng skyrockets thanks to optimism in China-US negotiations



The Hang Seng, benchmark index of the Hong Kong Stock Exchange, closed Friday with a robust rise of 2.34% thanks to the sudden optimism it plans on the negotiations between China and the US. on account of your commercial dispute.

The American president, Donald Trump, bet Thursday to feed the suspense at the start of the new round of talks, by first being skeptical about the possibility of an agreement and later optimistic, before meeting Friday with the Chinese vice premier, Liu He, in the White House.

The appointment comes just a week before a new rise in tariffs on Chinese imports enters into force and when Washington has redoubled pressure on Beijing with sanctions against Chinese officials and companies for its connection with the repression of Muslim minorities in western country.

However, the Hang Seng added 600.51 points to 26,308.44 units, while the index that measures the activity of companies in mainland China listed on the Hong Kong parquet, the Hang Seng China Enterprises, won 2.29 %.

The day ended with all sub-indices of the green parquet: Real Estate (3.19%), Finance (2.40%), Services (2.15%) and Commerce and Industry (2%).

In the financial sector, the recovery of Hang Seng Bank (3.48% more) was highlighted after its stumble on Thursday and the rise of the main banks listed on the parquet floor, including HSBC (2.61%), Bank Of China (2 , 28%) and ICBC (1.90%).

The insurers also traced, with substantial profits for China Life (3%), Ping An (2.74%) and AIA (2.16%).

In the real estate, spectacular day for all companies in the sector, showing China Res Land (3.78% more), Henderson Land (3.75%) and CK ASSET (3.74%).

After the timid rise of 0.19% that was recorded on Thursday, the main value per market price of the parquet, the Tencent technology, closed the day today with a revaluation of 1.88%.

However, the biggest gain of the session was taken by another technology, Techtronic Ind (6.31%).

One of the few bad news of the day was carried out by the pharmaceutical companies, with the downloads of CSPC Pharma, which was left 6.10% in this session, and Sino Biopharm (-0.37%).

The oil companies, also on the rise: CNOOC noted a notable advance of 4.70%, Petrochina of 3.25% and Sinopec of 3.08%.

Excellent advantage also for telecommunications companies since China Unicom achieved a 2.84% rise and China Mobile a 2.15% rise.

The turnover of the day was 98.620 million Hong Kong dollars (12.575 million dollars, 11.430 million euros).

. (tagsToTranslate) Hang (t) Seng (t) optimism (t) negotiations (t) China-USA



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