HSI Declines 234 pts; Some CN Homebuilders Elevate

Hong Kong stocks waned in the morning along with the external market. $Hang Seng Index (800000.HK)$ opened 89 points lower and, after narrowing the loss to 61 points at 17,823 at the beginning of the morning session, widened the decline later to 234 points or 1.3%, closing at 17,651 for the half-day. $Hang Seng China Enterprises Index (800100.HK)$ descended 85 points or 1.4% to 6,096. $Hang Seng TECH Index (800700.HK)$ declined 84 points or 2.2% to 3,837. Total half-day turnover was $42.326 billion.

Guangzhou became the first first-tier city to officially announce the relaxation of purchase restrictions, lifting a number of Chinese real estate stocks. $EVERGRANDE (03333.HK)$ mounted 10% to $0.55, while $KWG GROUP (01813.HK)$ and $SHIMAO GROUP (00813.HK)$ advanced 5% and 4.7% respectively. $AGILE GROUP (03383.HK)$ ascended 3%, while $SINO-OCEAN GP (03377.HK)$ and $SUNAC (01918.HK)$ gained more than 1%.

$COUNTRY GARDEN (02007.HK)$ lifted 1% to $1.03 after an announcement by the Shenzhen Stock Exchange showed that 7 of its onshore bonds were approved by creditors for a rollover proposal.