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Hang Seng loses 1.46% due to poor real estate results

Beijing, Sep 16 (EFE) .- The poor results of real estate and casinos caused the benchmark index of the Hong Kong Stock Exchange, the Hang Seng, to end today’s session with a decrease of 1.46%.

At the midday break, the Hang Seng closed at 24,538.82 points, the lowest figure since November 2, 2020, although during the session the minimum reached 24,505.21 points.

At the close, the selective lost 365.36 points, and thus fell to 24,667.85, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market, the Hang Seng China Enterprises, also fell 1.46%.

Among the sub-indices, the red spread, with losses of 3.43% in Real Estate, while Commerce and Industry fell 1.48%, Finance, 1.11% and Services, 0.27%.

Among real estate companies -one of the engines of the Hong Kong economy, along with banking-, the worst stops were CG Services, with a 10.7% drop, followed by -7.23% of Country Garden, -3, 76% of CK Asset, -3.65% of Longfor Group or -3.34% of China Resources Land.

The securities of casino operator Sands China also ended the session shorn, after a fall of 7.96%, in part related to Beijing’s announcement that it will study stricter regulation in this regard.

In contrast, state oil companies were among the few to grow during the session: Petrochina posted gains of 0.8%, compared to 0.77% from Sinopec and 0.12% from CNOOC.

The insurance company Ping An was the one that reaped the highest percentage of benefits from the selective, with an advance of 1.23%.

The business volume of the session was 150,820 million Hong Kong dollars (equivalent to 19,377 million dollars or 16,455 million euros).

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