China markets up, real estate shares drop
Mainland markets rose for the fourth day.
The Shanghai Comprehensive Index advanced 1.02 percent to 2816.25, conquering the psychological barrier of 2,800 for the first time in more than 10 months. The Small and Medium Enterprises SME Comprehensive Index added 1.24 percent to 4276.92.
Hong Kong stocks recovered, after two day drops, led by financials and commodities. The Hang Seng Index rose 4.03 percent to 18785.66. The Hang Seng Growth Enterprises Index climbed 1.94 percent to 578.42. The Hang Seng China Enterprise Index surged 5.04 percent to 11033.55.
Taiwan's TAIEX Index advanced 0.75 percent to 6462.27.
Industrial and commercial Bank of China (SH:601398;HK:1398), the world’s biggest lender by market value, added 5.89 percent on Hong Kong trading and 0.21 percent on Shanghai trading.
Bank of China (SH:601988;HK:3988), China’s third-largest lender, climbed 8.29 percent on Hong Kong and 0.51 percent on Shanghai.
HSBC (HK:0005), Europe’s largest bank, gained 4.30 percent.
PetroChina Co. (SH: 601857;HK:0857), China’s largest oil producer, advanced 4.09 percent on Hong Kong trading and 0.78 percent on Shanghai trading.
China Shenhua Energy Co. (SH:601088;HK:1088), the nation’s largest coal producer, added 5.95 percent on Hong Kong and 3.73 percent on Shanghai.
Aluminum Co. of China (SH:601600;HK:2600), China’s largest producer of the metal, surged 8.76 percent on Hong Kong but declined 0.70 percent on Shanghai.
Poly Real Estate Group Co. (SH:600048), China’s second-largest developer by market value, fell 5.04 percent from a more than four-month high after the government said real-estate prices in 70 major Chinese cities dropped 0.6 percent on average in May from a year earlier.
China Vanke Co. (SZ:000002), the largest, declined 1.23 percent. Vanfund Real Estate Co.(SZ:000638) dropped 8.15 percent.
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