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The Hang Seng Index rose less than 0.1 per cent to 24,919.22 as of 11.09am local time. The Hang Seng Tech Index dropped 0.3 per cent. On the mainland, the CSI 300 Index climbed less than 0.1 per cent and the Shanghai Composite Index fell at least 0.2 per cent.
Chipmaker Semiconductor Manufacturing International dropped 1 per cent to HK$52.10 and China Mobile lost 0.2 per cent to HK$85.40 before the disclosure of interim reports later on Thursday. Drug makers fell, as CSPC Pharmaceutical Group slumped 7 per cent to HK$9.35 and Wuxi Biologic lost 4.7 per cent to HK$30.12. Limiting the declines, Alibaba Group Holding added 1.6 per cent to HK$118.60 and parcel delivery firm ZTO Express rose 2.9 per cent to HK$161.10.
Investors will keep a close watch on a deluge of July economic data from mainland China in coming weeks, which could offer insights into whether the economy has weathered the tariff turmoil and the absence of fresh stimulus measures. Figures on foreign trade are due on Thursday, with exports estimated to rise 5.6 per cent year on year.
Corporate earnings will also take centre stage, with almost 70 companies on the 85-member Hang Seng Index scheduled to release first-half reports throughout August. Some 14 constituents have reported so far, with profit growth averaging 14 per cent versus 17 per cent for the preceding six-month period, according to Bloomberg data.
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“Sideline sentiment will dominate the market in the near term,” said Shen Fanchao, an analyst at Zheshang International in Hong Kong. “There probably will be no strong follow-up policies to boost the economy going forward.”