Nikkei: 8,851.35 (+53.57) Hang Seng: 19,865.11 (+282.23) Shanghai Comp: 2,576.41 (–35.78)
HONG KONG shares rose yesterday, boosted by earnings-driven gains in oil producers that offset weakness in small and mid-cap banks following Beijing’s latest move to contain money supply.
China Petroleum Chemical surged 8 per cent, ending up 6.7 per cent after reporting a forecast-beating 12 per cent rise in first-half profit.
Aluminum Corp of China slipped almost 6 per cent in Hong Kong and about 2 per cent in Shanghai after the aluminium producer reported earnings that fell short of forecasts.
Citic Bank shed almost 3 per cent, while China Minsheng Banking lost 6 per cent.
The Shanghai Composite Index sank 1.37 per cent to 2,576.41, underperforming other markets in Asia, with banks the biggest drags in lacklustre A-share turnover.
The Nikkei stock average in Tokyo climbed higher for a third straight day, tracking climbs in US stock futures. Technology exporters such as Sony were among key gainers, while Aozora Bank jumped on a report that the Australia and New Zealand Banking Group is looking at buying either Aozora or unlisted Tokyo Star Bank.
