Shanghai keeps climbing while ICBC sale drags down Hong Kong
Mainland China markets advanced slightly, led by chemicals and food producers. However the Hong Kong market dropped, led by financials following a sell-off of shares in Industrial & Commercial Bank of China, the world's largest bank by market value.
The Shanghai Comprehensive Index added 0.11 percent to 2724.30. The SME Comprehensive Index climbed 0.22 percent to 4223.81. The Hang Seng Index dropped 2.64 percent to 18389.08. The Hang Seng Growth Enterprises Index slid 1.0 percent to 554.18. The Hang Seng China Enterprises Index lost 2.74 percent to 10637.66. Taiwan's TAIEX Index slid 0.07 percent to 6949.08.
Industrial and Commercial Bank of China (SH:601398;HK:1398) slid 4.11 percent on Hong Kong trading after Goldman Sachs sold off a 0.9 percent stake in the bank. HSBC (HK:0005), Europe’s largest bank, lost 3.88 percent. Bank of China (SH:601988;HK:3988) dropped 1.09 percent on Shanghai and 2.01 percent on Hong Kong trading.
Related news
- Shenzhen up 1.1pct as brokerages support mainland markets while Hong Kong falls on real estate concerns
- Mainland and Hong Kong markets fall most in weeks
- Mainland stock mixed, pharma shares up as U.S. declares H1N1 national emergency
- China markets rise as Shenzhen launches Growth Enterprise Board and hot money starts flowing in again
- China markets slip again despite 8.9pct growth figure for third quarter
- China markets down on profit taking and crude oil drop
- China markets up as Hang Seng property index surges 5.8pct and mainland financials rise gain 2pct
