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Hong Kong Stocks end softer as rainstorm warning halted morning trade

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Capital Market
Last Updated : Jun 28 2021 | 9:50 PM IST
Hong Kong stock market finished shorter trading session fractionally lower on Monday, 28 June 2021, after a morning pause due to severe weather conditions. Trading in Hong Kong's markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered.

At closing bell, the benchmark Hang Seng Index was down 0.07%, or 419.92 points, to 29,268.30. The Hang Seng China Enterprises Index fell 0.14%, or 14.88 points, to 10,863.57.

The sub-index of the Hang Seng tracking the commerce & industry sector added 0.7%,while the finance sector fell 1.12%, the properties sector shed 0.45%, and the utilities sector fell 0.12%.

Hong Kong's stocks slipped after reopening for trading in the afternoon following a downgrade to the city's first black rainstorm warning of the year. The city's financial markets were earlier closed for the morning sessions after the Hong Kong Observatory hoisted the warning signal.

Participants kept a close eye on Washington after President Joe Biden acknowledged there was no guarantee the infrastructure package would get through Congress. The White House on Saturday stepped back from a call to link it to a wider tax-and-spending bill - including priorities like climate change mitigation, child care, schools and social services - that is opposed by Republicans. The announcement fanned fears he had threatened to veto the new agreement.

Investors also refrained from making major moves ahead of the release of major economic data, including the U.S. economic data, China manufacturing and non-manufacturing data, and Bank of Japan's Tankan survey later this week for directional cues.

Geely Automobile led declines among blue chips in Hong Kong, falling 2.1% to HK$25.50 after the Hangzhou-based carmaker scrapped a secondary listing plan in Shanghai. Budweiser Brewing declined 1.8% to HK$25.10, while Sands China dropped 1.7% to HK$32.50.

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First Published: Jun 28 2021 | 5:32 PM IST

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