Tuesday, August 26 09:18:05
Hong Kong's benchmark share index finished lower on Tuesday, as weakness in a few heavyweight stocks canceled out strength in oil companies.
The Hang Seng Index slipped 0.4 percent from its highest close since May 2008, hit in the previous session, and finished at 25,074.50 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong inched up 0.1 percent.
China Mobile, which reached a six-year high last week, was the top drag on the Hang Seng, down 1.0 percent. Asia insurance giant AIA Group lost 0.9 percent.
Chinese state oil companies led index gains again after rising on Monday on Sinopec's forecast-beating second-quarter profit. PetroChina climbed 2.4 percent and CNOOC 0.7 percent. Sinopec was down 0.8 percent from Monday's six-year high.
Good earnings lifted some mainland property developers. Sunac China Holdings surged 4.7 percent and Evergrande Real Estate Group 4 percent.
Greentown China Holdings soared 8.6 percent despite a 67 percent drop in first half net profit, which it had flagged. (Reuters)
For more visit: www.businessworld.ie