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Hong Kong stocks anomalies | Infrastructure stocks plummet across the board, second-quarter sector performance and cash flow significantly decline, institutions point out that infrastructure funding is under pressure.
Infrastructure stocks are plummeting across the board. As of the time of writing, China Communications Construction (01800) fell 7.03% to HKD 3.97; China Railway Signal & Communication Corporation (03969) fell 6.36% to HKD 2.65; China Railway Construction Corporation (01186) fell 4.65% to HKD 4.31; and China Railway (00390) fell 3.09% to HKD 3.14.
Hong Kong stocks closed (09.02) | Hang Seng Index fell by 1.65%. Technology, infrastructure, mainland real estate and other sectors were under pressure, while tianneng power (00819) surged by 14%.
Hong Kong stocks failed to continue the strong rally from last Friday, and the three major indexes collectively fell under pressure. The Hang Seng Index and the China Enterprises Index both fell more than 1%, while the Hang Seng TECH Index fell more than 2%.
China Communications Construction H1 Profit Almost Flat as Revenue Falls 2.5%; Shares Down 7%
HK stocks fluctuate | Infrastructure stocks collectively decline in early trading, with most state-owned construction enterprises' net income under pressure in the second quarter, and the construction industry PMI further declines in August.
Infrastructure stocks fell collectively in early trading. As of the time of publication, China Railway Construction Corporation (01186) fell 6.8%, to HK$4.66; China Railway (00390) fell 5.52%, to HK$3.42; China Communications Construction (01800) fell 5.06%, to HK$4.5.
Full text of China Communications Construction 2024 Semi-Annual Report
Summary of China Communications Construction 2024 Semi-Annual Report
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