The Hang Seng falls 0.1% as real estate falls

By: News Team

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The Hang Seng falls 0.1% as real estate falls

The benchmark index of the Hong Kong Stock Exchange, the Hang Seng, closed today with losses of 0.12% in a session marked by the decline in real estate values.

The selective yielded 26 points to 21,164.42, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong parquet, the Hang Seng China Enterprises, advanced 0.26%.

Among the sub-indices, the declines in Real Estate (-2.98%), Finance (-0.46%) and Services (-0.04%) weighed more than the rebound in Commerce and Industry (+0.37%).

The decline is more pronounced than that of the largest ‘socimi’ in Asia, Link REIT, which was left 12.82% after announcing by surprise its first ‘cash call’ – a situation in which a company asks for additional funds from its shareholders – since it began trading on the stock market in 2005, claiming about 2,400 million dollars to face its debt.

The news dragged down other real estate stocks such as New World Development (-6.68%) or Henderson Land (HK:0012) (-4,8 %).

On the other side of the coin were the popular restaurant chain Haidilao (+4.71%) or the brewer China Resources Beer (HK:0291) (+4,91 %).

The turnover of the session was 112,070 million Hong Kong dollars (14,276 million dollars, 13,368 million euros).

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