Stellar run that drove the Hang Seng Index to its highest point in three and a half years last month shows signs of fatigue
The Hang Seng Index rose 0.2 per cent to 24,811.51 as of 10.15am local time on Friday. But the gauge was down 2.3 per cent for the week, its first such loss since July 4. The Hang Seng Tech Index gained 0.6 per cent. On the mainland, the CSI 300 Index climbed 0.1 per cent and the Shanghai Composite Index was little changed.
China Petroleum and Chemical Corp, the nation’s largest oil refiner that is also known as Sinopec, slumped nearly 3 per cent to HK$4.47 after saying it expected a first-half profit decline of 40 to 44 per cent. Peer PetroChina fell 2.4 per cent to HK$7.49. Macau casino operator Sands China slipped 0.1 per cent to HK$19.02 ahead of its earnings report later Friday.
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