Live | Volatile China stocks close higher, Hong Kong ends sharply up
Welcome to SCMP.com's live coverage of China's stock market chaos here's how todays trading unfolded. China's market rebounded to finish higher while Hong Kong finished strongly as the weeks-long rout in equities seems to slow down for now. As before, we'll be bringing you updates as they happen on price levels, the biggest fallers and gainers and other key trading data, as well as breaking news and expert opinion on key developments.
Good afternoon, and welcome to SCMP.com's live coverage of China's stock market chaos. China's market rebounded to finish higher while Hong Kong finished strongly as the weeks-long rout in equities seems to slow down for now. As before, we'll be bringing you updates as they happen on price levels, the biggest fallers and gainers and other key trading data, as well as breaking news and expert opinion on key developments.
4:11pm: Investment and asset management firm China Everbright has improved by 18.2 per cent to HK$19.74 to be the biggest percentage gainer on the Hang Seng Red Chip Index.
4:09pm: The Hang Seng Index added 3.73 per cent, or 876.23 points, to close at 24,392.79 while the Hang Seng China Enterprises Index rose 3.05 per cent, or 339.07 points, to settle at 11,446.37.
3:53pm: Hang Seng index trading at 24,405.42, up 888.86 points or by 3.78 per cent. Market closes at 4 pm.
3:27pm: Good Fellow Resources is the biggest percentage gainer in Hong Kong markets right now, rocketing 125 per cent to HK$3.09 with turnover of HK$122 million. The trading and investment firm has today clawed back about half of the share value it lost over the past month.
3:17pm: Another 98 Shenzhen listed companies applied to today to suspend trading in their shares. Twelve suspended trading for one hour. This represents 1,029 Shenzhen listed companies whose share are suspended from trading.
3:17pm: In Shanghai, 30 companies applied for suspension while 11 companies resumed trading, leaving the total at 371 companies suspended from trading on Thursday.
3:15pm: A total of 1,400 companies are on voluntary suspension of their shares in the two mainland Chinese exchanges on Thursday. That is down from 1,429 on Wednesday but still represents 50 per cent of the total number of listed companies.
3:08pm: Shanghai Composite Index jumped 5.76 per cent, or 202.14 points, to close at 3709.33.
3:08pm: Shenzhen Component Index, dominated by small-and mid-caps, rose for the first time in seven days, adding 4.25 per cent to settle at 11510.34.
3:01pm: In Hong Kong, all of the top 20 stocks by turnover have now posted gains for the day. Overall turnover on the main board is just over HK$170 billion so far.
2:56pm: Alibaba Pictures is among today’s winners, gaining 39 per cent to HK$2.36 with turnover just over HK$1 billion. Yesterday, Xinhua reported that China’s film, television and radio industries grew revenue by 13 per cent in 2014, while domestic box office receipts increased 36 per cent and revenues from online streaming leapt by 49 per cent.
2:40pm: China Securities Finance Corporation has issued 80 billion yuan in short-term financing bonds on the inter-bank bond markets, with a coupon rate of 4.5 per cent, financial magazine Caijing reports on its website.
The bonds were called “Rescue Bonds” by market players, according to the report.
2:38pm: The Link REIT is one of only two Hang Seng Index constituents to trade negatively today and is exerting the most downward pressure on an otherwise buoyant index. Current share price is HK$44.25, 1.88 per cent down on yesterday.
This morning it was reported that Link has paid HK$9.3 billion for high-end office premises, Corporate Avenue phase 1, in Shanghai.
2:36pm: Shanghai Composite Index up 6.33 per cent to 3,730.46. CSI300 rose 6.79 per cent to 3,911.75.
2:36pm: Shenzhen Composite Index gained 3.76 per cent to 1,955.31 . ChiNext board added 3.03 per cent to 2,435.75.
