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Hong Kong Hang Seng Up 0.79% On Commodities, Capital Flows

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Last updated: 03/20/2017 06:15:27

06:15 AM EDT, 03/20/2017 (MT Newswires) -- The Hong Kong Hang Seng Index Monday rose 0.79% on the strength of capital flow from the mainland, and rising commodities issues. The southbound flow through the Hong Kong-Shanghai and Shenhua Stock Connects reached 3.7 billion yuan, the highest in the most-recent 15 trading days, reported exchange officials.

The broad gauge Hang Seng rose 192.06 to 24,501.99, as gaining issues outnumbered losers 32 to 16.

Leading the upside was coal-miner China Shenhua (1088:HK), up 16.3% after the company reported a profit-surge and declaried a special dividend. Also leading were coal-burning power-plant operator China Resources Power (836:HK), up 4.0%; and then phone-service China Mobile (941:HK), up 3.7%.

On the downside were shoe-retailer Belle International (1880:HK), off 3.3%; and then developer China Resources Land (1109:HK), off 2.4%.

On the mainland, the Shanghai Composite rose 0.41% to 3,250.81.

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