The futures is estimated to come under pressure when rebounding close to 23750 after a higher opening alongside the US stocks and incline to tighten its gain after rises...
The HSI retreated to 23165 in the afternoon and finished down 36 pts at 23269; the HSCEI sagged 134 pts to 13203 with a turnover of merely $63.7b...
Futures
FEB 23360 ask 23520 +0,68% MAR 23303 ask 23450 +0,59% JUN 23282 ask 23700 +0,69% SEP 23108 ask ... +1,28%
The HSI spiked 493 pts at most after a 296-pt higher opening along with externals, but narrowed its rise as Shenzhen and Shanghai stock markets receded following gains, and ended the midday only up 260 pts at 23529; the HSCEI lifted 55 pts to 13257 with a turnover of $39b. The futures closed 160 pts higher at 23520 on 9 discount to the spot market with a turnover of 81,776 lots.
Bank stock HSBC (0005-HK) was up 1.89 per cent, Hang Seng Bank (0011-HK) up 0.79 per cent, Bank of East Asia (0023-HK) up 1.49 per cent, BOC HK (2388-HK) down 0.21 per cent, and StanChart (2888-HK) to release results tomorrow up 0.5 per cent.
Chinese telecom stock China Mobile (0941-HK) was down 0.43 per cent, China Unicom (0762-HK) up 2.76 per cent on the rumours about the restructuring scheme for telecom industry of "5 combined into 3", Netcom (0906-HK) up 3.53 per cent, and China Telecom (0728-HK) up 0.51 per cent.
Local property stocks performed well. Cheung Kong (0001-HK), Henderson Land (0012-HK), SHK PPT (0016-HK), New World (0017-HK), Hang Lung PPT (0101-HK) and Sino Land (0083-HK) added 1.64 per cent to 3.61 per cent; Wharf Holdings (0004-HK) was up 3.98 per cent, Swire Pacific 'A' (0019-HK) unchanged, and MTR Corporation (0066-HK) up 0.18 per cent; Midland Holding (1200-HK) lifted 2.22 per cent.
HKEX (0388-HK) was up 1.28 per cent, Hutchinson Whampoa (0013-HK) up 0.68 per cent, CITIC Pacific (0267-HK) up 1.58 per cent, China Resources (0291-HK) up 0.36 per cent, China MER Hold (0144-HK) up 1.12 per cent, and COSCO Pacific (1199-HK) slightly up 0.69 per cent; utility stocks advanced, with HK & China Gas (0003-HK) and CLP Holdings (0002-HK) up 1.58 per cent and 0.08 per cent respectively while HK Electric (0006-HK) down 1.63 per cent.
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