Property plays help Hang Seng Index end higher
The Hang Seng Index has ended the day up 149 points, or 0.62 percent, at 24,221. File photo: RTHK
Mainland Chinese stocks were flat on Wednesday as investors weighed persistent global trade tensions and refrained from placing massive bets, while Hong Kong shares closed higher.
The Hang Seng Index ended the day at 24,221, up 149 points or 0.62 percent, while the Hang Seng China Enterprises Index, which tracks Chinese H-shares listed in the city, gained 0.5 percent.
The local property sub-index added two percent, helping to boost the markets. Cash-strapped property giant New World Development surged nearly 10 percent after closing a HK$88.2 billion refinancing deal.
On the mainland, the benchmark Shanghai Composite Index closed down 0.09 percent at 3,454 while the Shenzhen Component Index closed 0.61 percent lower at 10,412.
Their combined turnover was 1.38 trillion yuan, down from 1.47 trillion yuan on the previous trading day.
Shares in the papermaking and cement industries led the gains, while those in aircraft manufacturing and electronic information sectors suffered the most.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.13 percent to close at 2,123.
Defensive sectors helped lift the markets onshore, with the banking sector sub-index up 0.8 percent while liquor distiller sector advanced 0.6 percent.
Tech shares weighed on the markets, with the semiconductor sector and AI-related shares losing around two percent each.
Caution prevailed across the region as investors await developments in trade talks, after US President Donald Trump said he was not considering extending the July 9 deadline for countries to negotiate trade deals with the United States. (Reuters/Xinhua)
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