Hong Kong stocks opened higher and climbed above the 18,000-line soon. After that, Hong Kong stocks were volatile and were turning into losses in one time. However, the upward bias re-appeared in the afternoon and the gains expanded near the market close. The HSI closed at 18,171 points, up 286 points or 1.6%. Turnover fell to $92.7 billion. The HSI Index future contract in the spot month closed at 18,150 points, up 291 points and was 21 points lower than the HSI index. 67,704 contracts were traded. The Hang Seng China Enterprise Index closed at 10,428 points, up 226 points or 2.2%.
Stock markets in Asia were mostly up. The Nikkei 225 Stock Average closed at 9,523 points, up 71points or 0.8%. The stock markets in Taiwan and Shanghai were closed for holidays.
Blue Chips:
Chinese stocks lent strength to the market again, and the blue chips were mostly up. Among the constituent stocks, 36 were up and only 6 were down. Active buy orders slid to 55%, while turnover rose to $92.7 billion.
The 2 heavyweight stocks were underperforming. HSBC (5)
said the company's major shareholder Qu Xiaosheng transferred his entire shareholding to Yang Bin and Li Jianping. Qu Xiaosheng was holding 16.4% shareholding in the company before the transaction. The stock was not too volatile and was up by only 1.8%
was in discussion for certain forestry operating business in Asia, but no agreements were reached. The stock price was boosted and was gaining by more than 20% at one time, but retreated and turned into loss in the afternoon. It closed down by 1.3%.
placed 140 million new shares at $0.397 per share. The net proceeds raised would be $53.9 million. The share price was surging by 30% in the morning but closed down by 1%.
proposed a 1-for-4 share issue at 0.25 per share, representing a 26% discount to the closing price of $0.34. The proceeds of about 100 million would be used for strengthening the company's financial position and completing the production and marketing of its feature film "Astro Boy". The stock were surging by 80% after resumption of trading in the morning, and the gain narrowed to 25% at market close.
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