Daily Market Summary

Hong Kong stocks opened low and rallied yesterday, once hit 23,409, and retreated again in the afternoon. The index closed at 23,047 at last, near the day-low and down 95 pts. The main board turnover was HK$62.52bn.

    TINGYI (322) sank 4.7% to HK$18.96, the top loser of the HSI, as it was said that its parent, Ting Hsin was involved in cooking oil scandals. Power shares performed well. HUANENG POWER (902) jumped 5.2% to HK$8.9 after acquiring power plants from its parent with RMB9.28bn. A no. of cities in China canceled the property purchase restriction and relaxed mortgages, leading gains in mainland developers. AGILE PPT (3383) soared 5.1% to HK$4.15. SHIMAO PPT (813) and R&F PPT (2777) rose 3.1% and 2.1%. Yet, COUNTRY GARDEN (2007) slid 1.4%.