Profit taking hits Hong Kong shares; Wanda surges 20 pct
10/08/2017 09:10
SHANGHAI, Aug 10 (Reuters) - Hong Kong shares fell more than
1 percent on Thursday, mirroring losses in regional markets amid
continued tensions over North Korea, and as investors booked
profits after recent gains.
The Hang Seng index .HSI ended down 1.1 percent at
27,444.00 points, while the China Enterprises Index .HSCE lost
1.7 percent to 10,782.20.
The losses reflected profit taking and increased caution
among investors as tensions ratcheted up between the U.S. and
North Korea, said Sam Sam, an analyst with South China Financial
in Hong Kong.
Wharf Holdings Ltd 0004.HK fell sharply, losing 7 percent.
On Wednesday, Wharf shares surged 14 percent to a record
high close of HK$79.65 on news that its unit Wharf Real Estate
Investment Co Ltd would submit an application for a separate
listing on the main board. urn:newsml:reuters.com:*:nFWN1KU143
Hong Kong Exchanges and Clearing 0388.hk closed down 4.3
percent after second-quarter results released on Wednesday
indicated a 14-percent fall in its commodities segment.
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Wanda Hotel Development Co Ltd 0169.HK was one bright
spot, surging 19.8 percent to HK$1.39, its highest level in
nearly two years.
The company, a unit of Chinese conglomerate Dalian Wanda
Group led by Wang Jianlin, said earlier in the day that it would
buy assets worth over 7 billion yuan ($1.05 billion) from
Wang-controlled companies as part of a restructuring.
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The index measuring price differences between dual-listed
companies in Shanghai and Hong Kong .HSCAHPI stood at 128.54.
A value above 100 indicates Shanghai shares are pricing at a
premium to shares in the same company trading in Hong Kong.
(Reporting by Andrew Galbraith; Editing by Kim Coghill)
((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))
Keywords: CHINA STOCKS/HONGKONG CLOSE