February 28, 2021

The Hang Seng closes practically flat after the data of the Chinese commerce

The benchmark index of the Hong Kong Stock Exchange, Hang Seng, closed this Friday practically flat, with a slight rise of 0.14%, after learning that China's international trade advanced 3.9% in the accumulated first quarter of 2019.

In June, the foreign trade of the Asian giant fell by 1.2% with respect to that registered in May, although in the year-on-year comparison there was an increase of 3.2%.

Thus, the index added this Friday 39.82 points to stand at 28,471.62 units, while the index that brings together Chinese mainland companies listed in Hong Kong, Hang Seng China Enterprises, advanced 0.04 %.

Regarding the sub-indices, good data for Finance (+0.55%), and Real Estate (+0.37%), but bad for the Trade and Industry (-0.47%) and Services (-0.19%).

In the financial sector, Bank of China added 0.31%, ICBC, the world's largest bank by market price, started a 0.18% pyrrhic and HSBC closed flat.

The auto Geely Auto did not manage to take off the red and fell 1.86%, a bad data that adds to yesterday's losses (-1.5%).

Pharmaceuticals such as CSPC Pharma (-2.48%) and Sino Biopharm (-1.62%) also did not have their best day.

Telecoms ended the week down: China Mobile was down 0.43% and China Unicom was down 1.08%.

Disparity of opinions among the oil companies: Petrochina lost 0.23%, Sinopec ended the day with gains of 0.19% and Cnooc closed flat.

The best news of the day was taken by insurers, such as China Life (+1.81%) and AIA (+1.30%), while real estate held the rate with moderate gains for Henderson Land (+0.69% ), CK Asset (0.83%) and China Resources Land (+0.43%).

The business volume of the day was 62,440 million Hong Kong dollars (7,981 million dollars, 7,084 million euros).

(tagsToTranslate) Hang (t) Seng (t) closes (t) practically (t) commerce

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