Shares of energy companies declined as crude oil prices slipped after Libyan ports reopened and the market saw potential supply increases by Russia and other oil producers. CNOOC (00883) slid 3.4% to HK$12.56. PetroChina (00857) fell 2.8% to HK$5.56. Sinopec (00386) shed 0.4% to HK$7.05.
Shares of HK listed Chinese banks declined, with AIA (01299) dipping 0.9% to HK$68.15. CCB (00939) slipped 1.9% to HK$6.79. ICBC (01398) shed 1.6% to HK$5.49. BOC (03988) fell 1.1% to HK$3.58. HSBC (00005) edged down 0.2% to HK$73.15.
Shares of property management services providers rose. A-Living Services (03319) jumped 2% to HK$15.9. Country Garden Services (06098) shot up 2.3% to HK$13.12. Zhong Ao Home (01538) soared 9% to HK$1.32.
Corporate news byte:- Landsea Green June sales up 107% -- Landsea Green Group (00106) said its contracted sales for the six months ended June 2018 amounted to RMB15.979 billion, with contracted gross floor area of 759,001 square meters. For June, the group's contracted sales amounted to RMB5.582 billion, representing an increase of 107% month-on-month. Its contracted gross floor area was 238,187 square meters, an increase of 137% over the previous month.
Mainlanders drive Sa Sa sales to $2.1b -- Sa Sa International Holdings (0178), the cosmetics and skincare retailer, said yesterday retail and wholesale turnover for the first quarter ended June 30 increased by 24.8 percent over the same period the year to HK$2.11 billion. The retail and wholesale turnover in Hong Kong and Macau markets increased by 27.7 percent to HK$1.8 billion, while same-store sales increased by 25.3 percent. This was mainly driven by a 27.5 percent increase in the number of transactions from mainland tourists, which also led to a 14.5 percent growth in the volume of transactions.
Mongo Mining (00975) 2Q coal mining output down 4% -- Mongolian Mining Corporation (00975) said its run-of-mine (ROM) coal mining output was 2,454.5 thousand tonnes (kt) for the quarter ended June 2018. This represents 34% increase from the previous quarter ended March 2018, while it represents 4% decrease compared to the corresponding period ended June 2017.
Risecomm issues profit warning -- Risecomm Group (01679) said it is expected to record a loss attributable to the equity shareholders for the six months ended June 2018. The decrease in profit was mainly caused by the falling of revenue from sales and the decrease in gross profit.
Jinma Energy announces positive profit alert -- Henan Jinma Energy (06885) expected that the profit of the group for the six months ended June 2018 will be no less than RMB340 million, representing a year-over-year increase of at least 40%. The increase in the profit is mainly attributable to the average selling price of coke and related gross profit margin remaining at high levels.
OFFSHORE MARKET: US stock market closed mixed on Monday, as investors weighed earnings results against trade tensions. The Dow Jones Industrial Average rose 44.95 points, or 0.2%, to 25,064.36. The S&P 500 index fell 2.88 points, or 0.1%, to 2,798.43. The Nasdaq Composite Index fell by 20.26 points, or 0.3%, to 7,805.72.
The major European markets also ended mixed on Monday. The STOXX600 index fell by 0.3%, but Germany's DAX index was up 0.2%. The UK FTSE index fell by 0.8%.
COMMODITY NEWS: Crude oil prices fell on Monday as Libyan ports began to re-open and slowing Chinese growth weighed on broader sentiment. Russian Energy Minister Alexander Novak's comments that Russia may lift oil output by more than 200,000 barrels per day also weighed on crude oil prices. Brent crude fell by US$3.49 or 4.6% to US$71.84 a barrel and the US Nymex fell by US$2.95 or 4.2% to US$68.06 a barrel.
Base metal prices fell on the London Metal Exchange (LME) on Monday, extending their 5-week decline. Zinc fell 3.6% and copper by 0.8% to near 1-year lows on China growth concerns.
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