Hong Kong stocks end slightly higher as tech gains offset financials losses

HONG KONG, July 18 (Reuters) – Hong Kong stocks rose for a
seventh straight session on Tuesday as gains in the technology
and energy sectors offset losses in financial stocks.

The Hang Seng index finished 0.2 percent, or 54.36
points higher at 26,524.94.

Record gains by Apple supplier AAC Technologies,
which rose as much as 8.5 percent, helped drive up the
technology sector, while respective 0.8 percent and 1.35 percent
advances in Petrochina and China Shenhua
shares supported the energy sector.

Big banks proved major drags on the benchmark with the
financial index down 0.2 percent.

China Construction Bank and Bank of China
shares, among the biggest in the financial sector by
market value, lost 0.3 percent and 0.8 percent respectively and
were among the biggest decliners on the index by weight.

A 2.6 percent loss in Geely Automobile Holdings shares
sent the consumer cyclicals sector hobbling.

Property developer Sunac China Holdings finished
7.2 percent lower, after its shares fell as much as 13.5 percent
in early trading after media reports said Chinese banks are
reviewing the property group’s financial risk.

The Hang Seng China Enterprises Index, that tracks
the performance of China companies listed in Hong Kong, fell
0.26 percent, or 27.91 points, to 10,755.28.

(Reporting by Rushil Dutta in Hong Kong; Editing by Sam Holmes)


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