Press Releases in Hong Kong

HK stocks flat as tech offsets property sector rebound

SHANGHAI – Hong Kong's stock benchmark was roughly flat on Tuesday, as the weak performance in tech shares offset the rebound in property sector.

The Hang Seng Index was flat at 23,289.84, while the China Enterprises Index edged down 0.1 percent to 8,180.16 points.

The Hang Seng Tech Index fell 1 percent, having erased early gains.

But property shares rebounded sharply, as uncertainty around the sector's financial health boosted volatility.

The Hang Seng Mainland Properties Index bounced 3.5 percent, following the 2.8 percent decline in the previous session.

Shares of China Evergrande Group jumped as much as 10 percent in resumed trade on Tuesday.

Chinese telecommunication stocks, including China Telecom, China Unicom and China Mobile rose ahead of China Mobile's Shanghai listing on Wednesday.

China Mobile sold 845.7 million shares at 57.58 yuan ($9.06) each in Shanghai, representing a 50 percent premium to its Hong Kong share price.