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Hong Kong Hang Seng Finishes Flat as China Producer Prices Further Deflate

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Last updated: 09/10/2019 06:28:39

06:28 AM EDT, 09/10/2019 (MT Newswires) -- The Hong Kong Hang Seng Index opened higher Tuesday but eased in trading, finishing up a scant 0.01% after a weak mainland China producer price report, and still-brewing concerns over street protests in the former Crown colony.

The broad gauge Hang Seng rose 2.28 to 26,683.68, as gaining issues outnumbered losers 22 to 21.

Leading the upside was China Unicom HK (762:HK), up 5.0%, then state conglomerate Citic (267:HK), up 2.3%, followed by PetroChina (857:HK), up 2.2%.

On the downside were tool maker Techtronic (669:HK) off 2.5%, and smartphone components maker Sunny Optical Technology (2382:HK), also off 2.5%.

On the mainland, the Shanghai Composite declined 0.12% to 3,021.20.

In economic news, the mainland China producer price index for August fell 0.8% year-over-year, said the National Bureau of Statistics, wider than the 0.3% decline in July. The consumer price index rose 2.8% during the same time frame.

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