HK closed on a new high, again! And this time, the property stocks suffered a sell off in the afternoon on fears of fund raising via placements (SHK Properties placed HK$11 billion yesterday after the market close). HK and Shanghai were the only 2 markets in Asia to close higher.
The Chinese financials did very well again today, especially China Construction Bank. The word on the street is we are looking at HK$10.
Market Indices
Australia All Ordinaries 6772.50 - 0.52%
Bombay Sensex* 19783.51 - 0.97%
Hong Kong Hang Seng 31638.22 + 0.16%
Japan Nikkei 16651.01 - 0.28%
Shanghai Composite 5897.19 + 2.60%
Singapore STI 3798.45 - 0.56%
South Korea Composite 2052.37 - 0.51%
Taiwan Weighted 9757.93 - 0.52%
*Late trading
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