H-Shares Decline on Weak Banks
The Hang Seng Index declined 0.05% to close at 23,788.83 on Tuesday, January 25, in main board trading turnover of HK$ 62.73 billion. The Hang Seng China Enterprises Index lowered 0.27%.
Sinopec (NYSE:SNP, 0386.HK, 600028.SH) added 0.64%, while Aluminum Corporation of China (NYSE: ACH, 2600.HK, 601600.SH) and China Shenhua Energy (1088.HK, 601088.SH) increased 0.4% and 0.16%, respectively. China Shenhua Energy (1088.HK, 601088.SH) announced on January 24 that the company sold 293 million tons of coal in 2010, up 15.1% annually, while commercial coal production reached 224.8 million tons, up 6.9% y-o-y.
Banks continued declines today. Bank of Communications (3328.HK, 601328.SH) fell 0.78%. Bank of China (3988.HK, 601988.SH) and China Construction Bank (CCB) (0939.HK, 601939.SH) retreated 0.49% and 0.43%, respectively.
Real estate developers expanded today. China Overseas Land & Investment (0688.HK) increased 1.07%, R&F Properties (2777.HK) gained 0.99% and Sun Hung Kai Properties (0016.HK) grew 0.67%.
The Hong Kong Exchange announced on January 25 that the exchange will extend its opening hours in two phases, the first phase starting on March 7, 2011 and the second stage starting March 5, 2012.
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