July 26, 2024 at 04:45 am EDT
(MT Newswires) -- Hong Kong stocks saw a mixed trading day on Friday as the stocks wobbled between positive and negative throughout the day before closing the week in black.
Investors are still looking forward to more policy easing measures by the government even after the country's central bank made some unexpected rate cuts this week with the other big four commercial banks following the trail.
The Hang Seng Index rose by 0.10%, or 16.34 points, to close Friday's session at 17,021.31. The Hang Seng China Enterprises Index, however, slipped by 0.10%, or 5.87 points, to close at 6,010.64.
Hong Kong's total exports and imports of goods rose by 10.7% and 9% year over year to HK$373.5 billion and $429.2 billion in June, respectively, a Wednesday filing by the Census and Statistics Department said. A visible trade deficit of $55.7 billion, or 13% of the value of goods imports, was seen during the month.
China's "Big Four" commercial banks, Industrial and Commercial Bank of China (HKG:1398, SHA:601398), Agricultural Bank of China (HKG:1288, SHA:601288), Bank of China (HKG:3988, SHA:601988) and China Construction Bank (HKG:0939, SHA:601939) has cut interest rates, Xinhua News reported Thursday.
The banks' one-year fixed-term deposit interest rate was cut by 10 basis points to 1.35%. Joint-stock commercial banks are expected to also trim their interest rates in the coming days, according to the report.
In corporate news, Gushengtang Holdings (HKG:2273) expects a net profit of 103 million yuan to 108 million yuan for the six months ended June 30, an 11% to 16% increase compared with the net profit of 93.2 million yuan in the same period the previous year. The company's shares were up nearly 5% on Friday's close.
Leadway Technology Investment Group (HKG:2086) forecasts it will record a profit of about HK$2.1 million in the half-year ended June 30, versus a loss of HK$4.4 million in the year-ago period. The company's shares were up nearly 8% on Friday's close.
HK Asia Holdings (HKG:1723) recorded a profit attributable to owners of HK$14.8 million for the year ended March 31, 2024, higher than the profit of HK$3.9 million recorded in the previous fiscal year. The company's shares were down nearly 4% on Friday's close.

Sumber : MT Newswires