Hong Kong stocks end flat after gains powered by Nvidia earnings fizzle out
Hang Seng Mainland Properties Index rises 1.7 per cent on reports China is considering measures to revive its struggling property market
The Hang Seng Index closed little changed at 25,835.57. The Hang Seng Tech Index fell 0.6 per cent. On the mainland, the CSI 300 Index declined 0.5 per cent and the Shanghai Composite lost 0.4 per cent.
Search-engine giant Baidu rose 2.4 per cent to HK$113.90, while short-video sharing platform Kuaishou Technology advanced 2.3 per cent to HK$64.95 and power-tool producer Techtronic Industries surged 5.4 per cent to HK$88.50.
The Hang Seng Mainland Properties Index – a gauge tracking mainland property stocks – closed 1.7 per cent higher after media reports said that Chinese authorities were mulling a slew of supportive measures to ease the pressure on the sector. China Resources Land jumped 2.5 per cent to HK$30.06 and peer China Overseas Land & Investment added 2.5 per cent to HK$13.72.
On the flip side, online travel platform Trip.com lost 3.6 per cent to HK$554 and smartphone and carmaker Xiaomi dropped 3.9 per cent to HK$37.70. Blind-box toymaker Pop Mart International eased 2.5 per cent to HK$201.40 and online-games provider NetEase slipped 1.4 per cent to HK$212.60.