Global Market News

Hong Kong Hang Seng Down 0.2% as Property, Tech Issues Decline Again


Last updated: 01/14/2022 05:30:56

05:30 AM EST, 01/14/2022 (MT Newswires) -- The Hong Kong Hang Seng Index opened lower on Friday and could not recover, finishing off 0.2% as traders again edged away from property and tech shares.

The broad gauge Hang Seng declined 46.45 to 24,383.32, as losing issues outnumbered gainers 36 to 25. The Hang Seng TECH Index and the Mainland Properties Index each declined 0.5%.

Leading the upside on a down day were the Macau casinos, Sands China (1928:HK), up 7.1%, and then Galaxy Entertainment (27:HK), up 3.4%, on the outlook for certain regulatory approvals from the Macau government. Sino Biopharmaceuticals (1177:HK) rose 3%.

On the downside were garment maker Li Ning (2331:HK) and developer Country Garden (2007:HK), both down 3.3%.

The Hang Seng is up 4.2% year-to-date.

On the mainland, the Shanghai Composite retreated 1% to 3,521.26.

In other news, mainland China exports in December rose by 20.9% year-over-year in US dollar terms, while imports grew by 19.5%, reported the China Customs Administration.
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