[ET Net News Agency, 12 October 2018] HK stocks closed modestly higher on Friday
morning session, helped by the rebound of Renminbi, despite the Dow slid another 545
The benchmark index opened up 135 points to 25,401. It briefly narrowed its gains to 20
points and hit an intraday low of 26,286. But the index resumed its uptrend in
late-morning and saw an intraday high of 25,592 (up 326 points).
The Hang Seng Index ended up 297 points or 1.2% to 25,563. The H-share index rose 140
points or 1.4% to 10,233. Half-day turnover decreased to HK$58.6 billion from HK$74.8
billion on Thursday.
Sunny Optical (02382) jumped 7.7% to HK$76.8 and was the top blue-chip winner.
Global equity markets saw sell-off, dragging oil prices down by 3% overnight. CNOOC
(00883) dipped 1% to HK$14.14. Sinopec (00386) edged up 0.5% to HK$6.75. PetroChina
(00857) wiped off 2% to HK$5.87, becoming the worst blue-chip loser. Tencent (00700) shot
up 5.1% to HK$280.6 after days of decline.
Renminbi strengthened to 6.8997 against the US dollar this morning at open, lending
support to aviation counters. China Southern Airlines (01055) added 2.7% to HK$4.24. China
Eastern Airlines (00670) put on 2.2% to HK$4.27. Air China (00753) gained 2.3% to HK$6.7.
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