Hong Kong Stocks Swing Between Losses, Gains; Huaneng Declines
Hong Kong stocks swung between losses and gains as China Overseas Land & Investment Ltd. (688) rose after its property sales more than tripled, while some stocks declined on their first day of trading.
China Overseas Land, a developer controlled by the nation’s construction ministry, rose 3.9 percent. Huaneng Renewables Corp., a developer of wind-power projects in China, tumbled 10 percent on its debut. Dragon Crown Co Holdings Ltd., a terminal service provider, slid 1.8 percent. The Hang Seng Index fell 0.4 percent to 22,514.61 as of 10:04 a.m. local time, after rising as much as 0.3 percent. It is headed for a 1.6 decline for the week. More than four stocks fell for each that advanced on the 46-member gauge. The Hang Seng China Enterprises Index of Chinese companies’ H shares lost 0.4 percent to 12,424.17.
Futures on the Hang Seng Index (HSI) rose 0.1 percent to 22,454.
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