HSI flat at noon, Nikkei leads Asian recovery - RTHK
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HSI flat at noon, Nikkei leads Asian recovery

2017-12-07 HKT 09:45
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  • Hong Kong market was again bogged down by energy sector. File photo: RTHK
    Hong Kong market was again bogged down by energy sector. File photo: RTHK
Hong Kong stocks finished on Thursday morning virtually unchanged as bargain-buying and a bounce in tech firms was offset by falling energy companies.

The Hang Seng Index inched up just over a point, to 28,226 by the break.

On the mainland, the Shanghai Composite Index fell 0.6 percent to 3,272 and the Shenzhen Composite Index lost 0.3 percent to 1,873.

Tokyo stocks rallied after three days of losses, leading a cautious recovery in Asian markets. Sydney was up 0.6 percent and Singapore put on 0.1 percent but Seoul sipped 0.3 percent.

Asian markets had plunged on Wednesday led by tech firms as investors cashed out following a year-long surge in the sector, while energy firms were also hit by worries about commodities demand.

However, strong gains in big name firms including Amazon, Facebook and Google parent Alphabet provided some buying impetus for the sector in Asia.

Tencent jumped 1.7 percent and Sony rose 0.6 percent while Samsung was 0.5 percent higher, although ongoing worries about further selling kept a cap on gains. But energy firms, which also dived Wednesday, suffered again after a plunge in oil prices overnight fuelled by disappointing US stockpiles data.

Bitcoin charged to a new record above US$14,000 as investors piled into the cryptocurrency, triggering fresh warnings of a bubble. The digital unit has risen 20-fold since January and on Thursday hit a peak of US$14,400, just a day after breaching US$12,000. (AFP)

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Last updated: 2017-12-07 HKT 13:31