HK stocks give up gains, casino counters stronger
Hong Kong shares edged down at the close Wednesday, giving up earlier gains after the index rose in seven of the previous eight sessions.
The benchmark Hang Seng index gave up 0.28 per cent, or 57.12 points, to 20,333.37 on turnover of HK$61.64 billion($A7.51 billion)).
The market was also weighed by a report that China's new yuan loans fell short of expectations in January, heightening concerns that Beijing would continue to keep tight credit conditions.
Cheung Kong Holdings gave up 0.9% and Sino Land fell 3.6%.
Henderson Land rose 0.7 per cent to HK$42.40 and Sun Hung Kai Properties was flat at HK$107.40. Cheung Kong dropped 0.9 per cent to HK$103.50.
Li & Fung slid 1.8 percent to HK$16.66. Techtronic Industries Co., a maker of Ryobi power tools and Hoover vacuum cleaners that counts North America as its largest market, slipped 0.1 percent to HK$8.61.
Sands China, Asia’s biggest casino operator by market value, gained 0.8 percent to HK$26.45 after Macau gambling revenues jumped 35 percent in January.
SJM Holdings Ltd., a casino company founded by billionaire Stanley Ho, increased 2 percent to HK$14.16. Galaxy Entertainment Group Ltd. rallied 1.8 percent to HK$17.22.
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