Shanghai Comp down over 2%, Hang Seng Flat

 

shanghai hang seng

Most sectors of the Hang Seng were down with the exception of Consumer related companies including wholesaler Li and Fung, HK 494 and up 4.94% and food manufacturers Tingyi, HK 322 and Want Want China, HK 151 both up slightly over 1%.  With no specific news an these, it would be assumed they rose in response to the news of the CPI rise of 2.3%, particularly with the Food component rise of 7.3%.  This rise is most likely unwarranted, with an interesting critique of the statistics by Christopher Balding.  China Life, HK 2628, continued its precipitous slide from last week. Wharf Holdings, HK 4, tumbled after earnings as Citi, despite a target price rise from 31.7 to 34.5, kept it at Sell due to continuing weakness in high-end Hong Kong retail sales.

 

Hang Seng Movers

 

 

 

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