Hong Kong stocks closed mixed on Friday, 28 May 2021, as investors opted to book recent profit amid lingering worries about China's policy tightening and Sino-U. S. relations after the U. S. Senate advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology.
At closing bell, the benchmark Hang Seng Index rose marginal 0.04%, or 11.21 points, to 29,124.41. The Hang Seng China Enterprises Index fell 0.51%, or 54.80 points, to 10,793.55.
For the week, the Hang Seng Index rose 2.3%.
The sub-index of the Hang Seng tracking the commerce & industry sector fell 1.23%, while the finance sector added 1.34%, utilities sector added 0.56%, and the properties sector added 0.85%.
Shares of energy companies surged on tracking an uptick in commodity prices. Crude oil prices climbed on promising U. S. economic data and expectations of a strong rebound in global fuel demand in the third quarter. Sinopec rose 1.2% to HK$4.21, while PetroChina added 0.6% to HK$3.17. CNOOC gained 0.5% HK$8.50.
Shares of CK Asset jumped 6% to HK$52.80, after the company said its share buy-back was oversubscribed at 108% after the offer was expanded to allow its key shareholder to maintain control. The firm will pay HK$19.38 billion for 380 million shares, pricing each share at HK$51.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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