HK shares edge higher on low turnover, China shares lower
Hong Kong shares edged higher on Tuesday. The Hang Seng Index added 0.15 per cent, or 30.43 points, to close at 20,917.83 on turnover of HK$55.94 billion ($A6.73 billion) on Tuesday.
Weaker banks dragged China's benchmark indexes lower.
Turnover in both markets declined from Monday, suggesting that investors remain cautious because of worries over Greece.
However, the Hang Seng has climbed 13.5 per cent this year.
The Shanghai Composite Index, which covers both A and B shares fell 0.3 percent or 7.09 points, at 2,344.77 on turnover of 66.3 billion yuan ($10.5 billion) dragged by banks stocks after China's pension fund sold about $20 million worth of H-shares of two of the biggest mainland lenders.
Nomura analysts said in a report dated Tuesday they are "very bullish" on Hong Kong property stocks.
Henderson Land jumped 6 percent, while Sun Hung Kai Properties Ltd jumped 3.6 percent, closing at its highest since Aug. 4 last year, becoming the top boost on the Hang Seng Index.
However, gains for Sun Hung Kai came amid significant shorting interest, a trader in the territory said, suggesting segments of the market remained bearish.
Turnover in Hong Kong was the lowest since Jan. 16. At HK$55.9 billion, it is marginally lower than Monday's level and about 38 percent lower than Feb. 2, which was the highest turnover in the year to date.
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