Times of Oman
Hang Seng falls below 30,000 points as China market slump triggers selling
November 23, 2017 | 2:05 PM
Image used for illustrative purpose. Photo: File
 
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Shanghai: Hong Kong stocks ended Thursday sharply lower, with the benchmark Hang Seng falling back below the 30,000 point mark after the previous session's breakthrough, as a tumble in mainland stocks soured sentiment.

The Hang Seng index fell 1.0 per cent, to 29,707.94, while the China Enterprises Index lost 1.9 per cent, to 11,737.06 points, the lowest level in a month.

Most of the damage was done in the last hour of trading.

Investors took profit in sectors including financials , IT and consumer goods, as pessimistic mood in China split over the border.



The mainland blue-chip index suffered its worst one-day fall in almost 1-1/2 years with a nearly 3 percent slump, as Beijing stepped up its deleveraging campaign.

The top gainer on Hang Seng was WH Group Ltd up 1.69 per cent, while the biggest loser was AAC Technologies Holdings Inc which was down 4.24 per cent.

The biggest gainers among H-shares were China Minsheng Banking Corp Ltd up 2.41 per cent, followed by Great Wall Motor Co Ltd gaining 0.98 per cent and China Railway Construction Corp Ltd up by 0.77 per cent.

The three biggest H-shares percentage decliners were China Pacific Insurance Group Co Ltd which has fallen 4.73 per cent, New China Life Insurance Co Ltd which has lost 4.7 per cent and China Merchants Bank Co Ltd down by 4.1 per cent.

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