Hong Kong stocks close flat on profit-taking

Hong Kong stocks rose merely 2.39 points, or 0.01 percent, to close at 19,692.64 on Friday, mainly due to profit-taking after four-day gains.

Turnover shrank to 43 billion HK dollars (5.5 billion U.S. dollars) from 58 billion HK dollars on Thursday. Buying momentum turned weak and trade was cautious as the market awaited key housing data in the US after Wall Street provided no lead overnight.

Heavyweight China Mobile continued downward trend for the second day, slipping 1.9 percent to 70.95 HK dollars, despite its annual results meeting market expectations.HSBC edged up 0.54 percent to 137.2 HK dollars. Hutchison put on 0.6 percent to 75.85 HK dollars.

China mainland stocks, or H-shares, rose 73.81 percent, up 0.78 percent, to close at 9487.51 points. New members of H-shares China Comm Cons and China Coal rose 0.98 percent and 0.13 percent, while ICBC remained unchanged at 4.39 HK dollars. (One U.S. dollar equals 7.8035 HK dollars)

Source: Xinhua