Hong Kong stocks end lower, dragged by financials
Hang Seng Index ends 0.8 per cent lower at 21,634
Financial stocks led Hong Kong’s main share index to a lower close on Thursday, with the weakness expected to continue, according to analysts.
The benchmark Hang Seng Index closed down 0.8 per cent, or 173.6 points, at 21,636.2 points. The H-share index lost 1.41 per cent, or 131.39 points, to 9,200.24 points.
Chinese financial stocks led the losses.
Ping An Insurance dropped 1.53 per cent to HK$38.60 while China Construction Bank finished down 1.27 per cent at HK$5.45.
“We expect the Hang Seng index to remain weak before the holiday season. It may not be a good time to buy stocks,” said analysts from Lukfook Financial in a research note.
Several index heavyweights were lower, with HSBC falling 0.85 per cent to HK$62.55, while Tencent lost 0.38 per cent to HK$181.50, and China Mobile was down 1.04 per cent to HK$80.90.