Hong Kong stocks hovered around a two-month low, as investors stayed on the sidelines due to a dearth of trading triggers.
The Hang Seng Index rose 0.2 per cent to 19,267.86 as of 10.04am local time after retreating 1 per cent last week. The Hang Seng Tech Index gained 0.1 per cent.
Turnover on the city's stock market was about a fifth lower than the 30-day average, according to Bloomberg data.
Mainland benchmarks inched higher: the CSI 300 Index climbed 0.1 per cent and the Shanghai Composite Index added 0.2 per cent.
Oil producer CNOOC rallied 2.8 per cent to HK$17.54 and PetroChina added 1.8 per cent to HK$5.65. Hong Kong property developer New World Development (NWD) slumped 4.2 per cent to HK$6.65; the stock will be removed from the Hang Seng Index starting next month.
The Hong Kong market's recent rally has run out of steam after China's fiscal stimulus disappointed investors who are also worried about higher tariffs from the US. Readouts from recent earnings reports show listed companies are still grappling with weak domestic demand in China as well as lingering property woes. Through Friday, the Hang Seng Index was down 17 per cent from this year's high set in October.
Sumber : scmp.com
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