China’s trade with the rest of the world increased by 26.9% year-on-year in May. However, such good data did not prevent the benchmark index of the Hong Kong Stock Exchange from closing today with a loss of 0.45%.
Although the year-on-year data for Chinese trade is positive, imports from the Asian country registered a fall of 1.1% compared to April. Meanwhile, the total decrease was 0.4%. Exports grew by 0.2% in May compared to April.
Thus, selective Hong Kong lost 130.82 points to 28,787.28, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market, the Hang Seng China Enterprises, lost 0.53%.
Three of the sub-indices of the trading floor closed in the red. The services sector decreased by 0.79%, Commerce and Industry yielded 0.59%, and Finance dropped by 0.44%. In contrast, Real Estate added 0.52%.
In the financial sector, decreases for banks such as Bank of China and ICBC Stood out. The Bank of China yielded 1.39%. Meanwhile, ICBC contracted by 0.99%. For insurers, AIA dropped by 0.61%, and Ping An lost 0.31%.
The energy sector ended the day with mixed results. Cnooc increased by 2.35%. At the same time, Sinopec saw more moderate increases of 0.23%. On the other hand, Petrochina settled with losses of 0.59%.
Xiaomi tumbled by 4.06%
The technology company Tencent, the main value by weight of the market price, lost 1.8% today.
By contrast, Alibaba rose 0.86% today. Meanwhile, Xiaomi lost 4.06%. Xiaomi’s share of the smartphone market expanded by 75% year-on-year in the first quarter. Revenue from smartphone sales surged by 69.8% year-over-year to 51.5 billion yuan. Meanwhile, revenue from internet services climbed by 11.4% year-over-year to 6.6 billion yuan. Despite the revenue growth, Xiaomi and other electronics labels remain held back by the global chip shortage.
The day’s best result was scored by the food conglomerate WH Group, with profits of 7.71%. It was followed by the technological AAC Tech, which took 6.18% this Monday.
Geely Autoscored the worst result of the day, with a decrease of 5.17%.
In terms of state telcos, China Mobile added 0.52%, and China Unicom gained 0.48%.
In the real estate area, the gains of CG Services and Henderson Land stood out, adding 2.55% and 1.47%, respectively. As for the losses, the most notable losers of the day were Longfor Group, with a drop of 1.43%, and China Overseas, yielding 0.54%.
The business volume for the session was HK $144.47 billion (the US $18.62 billion).
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