Arab Today, arab today hong kong shares close 116 higher
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

Hong Kong shares close 1.16% higher

Arab Today, arab today

Arab Today, arab today Hong Kong shares close 1.16% higher

Hong Kong - AFP

Hong Kong shares rose 1.16 percent on Tuesday, in line with regional stocks and snapping a five-day losing streak. The benchmark Hang Seng Index added 251.08 points to 21,850.59 on turnover of HK$69.51 billion ($8.92 billion). Analysts said the index was helped by bargain hunting as it was down 8.8 percent for the month as of Monday. \"While some investors remain concerned about possible monetary tightening measures from China to curb inflation, attractive valuations have started to emerge after the recent correction,\" said Patrick Yiu, managing director of CASH Asset Management. He said he believed concerns about tightening in China have largely been factored in. Chinese coal producer Shenhua Energy, one of the best-performing blue chips Tuesday, rose 3.5 percent to HK$35.60 on expectations of higher demand in the peak summer season, Yiu said. Yanzhou coal was 3.1 percent higher at HK$29.95. China oil producer PetroChina was up 1.8 percent at HK$11.08. Linus Yip, a strategist at First Shanghai Securities, said some players stayed away before a two-day US Federal Reserve policy meeting starts Tuesday, awaiting more trading cues from Chairman Ben Bernanke on the outlook for the world\'s number one economy. Chinese shares closed up 0.96 percent. The Shanghai Composite Index, which covers both A and B shares, was up 25.23 points at 2,646.48 on turnover of 73.3 billion yuan ($11.3 billion). \"Selling pressure is declining after many investors have headed for the sidelines in recent sell-offs,\" Jacky Zhang, an analyst at Capital Securities, told Dow Jones Newswires. \"But shares are unlikely to rise sharply as long as inflation remains high,\" Zhang added. Cement companies gained on news that China has issued guidelines allowing local governments to issue bonds to fund public-housing construction, dealers said. Anhui Conch Cement rose 4.3 percent to 26.30 yuan Lionhead Cement surged by the 10 percent daily limit to 10.31. Coal miners also rallied on attractive valuations. China Shenhua Energy jumped 2.9 percent to 28.82 yuan, while Yanzhou Coal Mining added 3.3 percent to 34.36.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong shares close 116 higher Arab Today, arab today hong kong shares close 116 higher

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong shares close 116 higher Arab Today, arab today hong kong shares close 116 higher

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday