Hong Kong stocks slip after four-day winning streak

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Reuters reported Hong Kong stocks ending lower on Tuesday (20 Aug) as investors locked in profits following a four-day winning streak after Beijing’s interest rate reform.

Boosting riskier assets and tempered recession fears, the Hang Seng index ended down 0.2% at 26,231.54, while the China Enterprises Index closed 0.2% higher at 10,132.77.

Meanwhile, China lowered its new lending reference rate slightly on Tuesday, as the country’s central bank kicked off new interest rate reforms designed to lower corporate borrowing costs.

Top Gainers/Decliners

On that note, the top gainers among H-shares were: 

  • CSPC Pharmaceutical Group Ltd up 11.42%
  • ANTA Sports Products Ltd gaining 4.87% 
  • Sinopharm Group Co Ltd up by 3.31%

Meanwhile, the biggest H-shares percentage decliners:

  • Country Garden Holdings Co Ltd, which was down 1.80%
  • CITIC Ltd, which fell 1.19% 
  • PICC Property and Casualty Co Ltd, down by 1.12%.

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Written by

Cheryl Toh

Last updated on

August 21st 2019, 11:55 am

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