Among heavyweight, Tencent was down 1.6% to HK$367.2 ahead of the firm's second-quarter earnings report in August. HSBC (00005) softened 0.2% to HK$74.7. HKEX (00388) fell 0.7% to HK$235.2. China Mobile (00941) inched up 0.1% to HK$69.95. AIA (01299) also nudged up 0.1% to HK$68.7.
Mainland lenders were down as RMB depreciated again, with off-shore CNH breaking the 6.84 barrier. CCB (00939) edged up 0.1% to HK$7.12. ICBC (01398) was unchanged at HK$5.82. ABC (01288) slipped 0.3% to HK$5.82. BOC (03988) retreated 0.3% to HK$3.7. CM Bank (03968) shed 0.8% to HK$30.65.
NEWS FROM THE PRESS: China Life sees interim profit to rise over 25% -- China Life Insurance expects the net profit for the first half of 2018 will increase by a range between RMB3,061 million and RMB4,285 million as compared to that for the first half of 2017, representing an increase of 25% to 35%, citing estimated increase is mainly attributable to the combined effect of the update of discount rate assumption of reserves of the company's traditional insurance contracts and the downward trend of the equity market.
Nanjing Sinolife expects interim profit to decline 90% -- Nanjing Sinolife United (03332) expects to record a 90% decrease in its net profit for the six months ended June 2018, citing significant decrease in profit was mainly attributable to the group's strategy since 2017 on increasing the proportion of sales of Good Health products among the group's overall sales, while the gross profit margin generated from the sales channels of the Good Health products was lower than the that from Zhongsheng Brand retail stores; and a significant increase in the selling and distribution expenses which are mainly attributable to the increase in the marketing expenses as a result of the group's continuing effort to promote the brand awareness of Good Health.
MS Group Hldgs expects HK$5.7m interim loss -- MS Group Holdings (01451) expects to record a loss of HK$5.7 million after including listing expenses of HK$8.8 million for the six months ended June 2018. However, if the listing expenses were excluded, the group would record an unaudited net profit after tax of HK$3 million for this period. The decrease in profit is principally attributable to the decrease in the overall gross profit margin primarily due to the increase in operating costs of the group in the PRC resulting from the appreciation of Renminbi against Hong Kong dollars over the period; the increase in the unit procurement costs of raw materials; the decrease in revenue from the OEM business by 13% for the six months ended 30 June 2018; and the significant increase in selling distribution and promotion expenses for developing and promoting the Yo Yo Monkey brand of the group.
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