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Hang Seng Index flat as investors prepare for New Year
Print Edition
Hong Kong stocks closed basically flat yesterday, giving up earlier gains as investors wind down ahead of the New Year break.
The Hang Seng Index edged 1.63 points higher to 23,244.87.
So far this year Hong Kong shares have added 2.6 percent as a rally in the second half of the year offset a 12 percent loss in the first six months.
Chinese mainland financial stocks fell, with China Construction Bank and the Bank of Communications falling over 1 percent on worries about local-government debt in the world’s second-largest economy.
Tencent Holdings Ltd closed up 2.61 percent or HK12.60 at a record of HK$495.80.
Yesterday was the last full day of trading for Hong Kong this year, with the market open for a half day today.
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