[Closing Summary] People's Bank of China lowers LPR interest rates, A shares soar, but Hong Kong stocks cannot keep up with low income

Financial news

Written by: Zhang Weilun

2020-02-20 16:24

Hong Kong stocks opened higher and closed lower today. The People's Bank of China lowered the one-year loan market quoted interest rate (LPR) by 10 basis points, spurring the mainland stock market to rise, the Shanghai Stock Exchange Index increased by 3,000 points, and the total turnover of the Shanghai and Shenzhen markets exceeded RMB 1 trillion. However, the Hong Kong stock market did not follow the rise of the mainland stock market, and once fell below 27,400 points. The three major heavy stocks all closed lower.

The Hang Seng Index closed at 27609 points, down 46 points. The state-owned enterprise index closed at 10913 points, up 5 points, and the turnover was 100.88 billion yuan.

The three major heavyweight stocks all closed lower, dragging down the market performance. AIA (1299) fell 0.2% to close at 79.65 yuan, HSBC Holdings (0005) fell 0.4% to close at 56.8 yuan, and Tencent Holdings (0700) stayed at 410 yuan, down 0.3%.

Chinese property stocks are also generally down today. China Evergrande (3333) fell 1.1% to close at 18.82 yuan, Country Garden (2007) fell 1.5% to close at 10.72 yuan, China Overseas Land (0688) fell 1.4% to close at 27.75 yuan China Resources Land (1109) fell 1.2% to close at 35.6 yuan.

In terms of domestic banking stocks, China Construction Bank (0939) did not rise or fall, closing at 6.55 yuan, ICBC (1398) fell 0.2%, closing at 5.55 yuan, and Agricultural Bank of China (1288) fell 0.3%, closing at 3.19 yuan.

Summary of Hong Kong stock market closing